United Sporting OK'd For $8.4M Ch. 11 Sale Of Ohio Property

Law360, Wilmington (September 11, 2019, 8:26 PM EDT) -- Bankrupt sporting goods and firearms distributor United Sporting Cos. received court approval Wednesday in Delaware for an $8.4 million sale of an Ohio distribution facility as it continues to liquidate it property as part of a proposed Chapter 11 plan.

During a hearing in Wilmington, debtor attorney Timothy W. Walsh of McDermott Will & Emery LLP said the purchase price offered by Ellett Brothers LLC was more than $1 million higher than a stalking horse bid submitted by the eventual buyer.

That floor bid was tested at an auction Sept. 6 when another bidder — Thomas & Marker Construction Co. — submitted...

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