Edwin Watts Auction Plan OK'd After Stalking Horse Bails

Law360, Wilmington (November 20, 2013, 7:29 PM EST) -- A Delaware bankruptcy judge on Wednesday gave the nod to an auction to sell private equity-owned retailer Edwin Watts Golf Shops LLC without a stalking horse bidder after the debtor said its plan for a joint venture to set the auction floor at a minimum of $45 million fell apart.

During a hearing in Wilmington, U.S. Bankruptcy Judge Mary F. Walrath said she would allow the debtors to proceed with plans to conduct a so-called blind auction on Dec. 3 in the hopes that a new...
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