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Golfsmith $22M Bid-To-Beat Is Only Offer In Ch. 11 Sale

Law360, New York (January 9, 2017, 9:07 PM EST) -- Bankrupt sporting goods retailer Golfsmith International Holdings Inc. on Monday informed a Delaware bankruptcy court that it had canceled a Chapter 11 auction of its Texas corporate headquarters after receiving no qualified offers to compete with a stalking horse bid of more than $22 million.

Stalking horse B.H. Management Inc., which offered $22,150,000 for the 40-acre site in Austin, became the successful bidder when a nearly one-month-long bidding period ended Friday without any qualified offers. The company is listed as a creditor of the Chapter 11...
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