Sports Authority May Shape Future Of Retailer Ch. 11s
Law360, Wilmington (March 18, 2016, 5:29 PM EDT) -- Sports Authority's bitter dispute with consignment sellers over proceeds has the potential to shape the role of vendors in retail Chapter 11s for years to come, and the results of the fight could send shocks to an already weak sector, bankruptcy experts say.
The conflict, which has thus far dominated the two-week-old, $1 billion case, centers on the proceeds reaped from the about $85 million worth of consignment goods supplied by roughly 170 vendors.
The consignment vendors argue that the merchandise they've supplied, which accounts for 20 percent of the retail chain's business, is not property of Sports Authority's bankruptcy estate and...
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