Golfsmith Seeks Nod On New $80M Ch. 11 Financing

Law360, New York (October 18, 2016, 9:41 PM EDT) -- Sports retailer Golfsmith on Monday sought a Delaware judge's permission to obtain $80 million in new bankruptcy loans provided by PNC Bank National Association, saying the new financing will give the company additional time to explore a possible reorganization of the business.

Golfsmith International Holdings filed a motion that seeks approval of a replacement debtor-in-possession deal with PNC. The company said the financing "is critical" to preserving the retailer's value as it explores a Chapter 11 reorganization plan or sale of the business.

Golfsmith said in...
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