September 27, 2016 6:47 PM ET

Specialty Retail

Company Overview of Golfsmith International, Inc.

Company Overview

Golfsmith International, Inc. designs, manufactures, and markets golf clubs, golf club components, club assembly tools, and golf accessories for consumers and clubmakers. It offers golf equipment, merchandise, and training curriculum for consumers and golf clubmaking businesses through its retail super stores, as well as through an online store. The company provides various golf products, including accessories, apparel, balls, carts, club fittings, gifts and games, gift cards, gloves, club grips, bags and travel, home and office, gears, shoes, sunglasses, and videos and books. Golfsmith International, Inc. was founded in 1967 and is based in Austin, Texas. It has stores in Alabama, Arizona, ...

11000 North IH-35

Austin, TX 78753-3195

United States

Founded in 1967

Phone:

512-837-8810

Fax:

512-837-1245

Key Executives for Golfsmith International, Inc.

Chief Executive Officer and President
Age: 58
Chief Financial Officer
Age: 51
Senior Managing Director of Omers Private Equity and Director
Age: 55
Compensation as of Fiscal Year 2016.

Golfsmith International, Inc. Key Developments

Interim Order for Store Closing Sale for Golfsmith International Holdings Inc.

The US Bankruptcy Court approved the store closing sale of Golfsmith International Holdings, Inc. on interim basis on September 15, 2016. As per the order, the Court has authorized the debtor to implement the store closing procedures and assume the liquidation consulting agreement. The debtor has identified 20 stores that require prompt closure and liquidation of assets in these stores will yield $7.2 million in net proceeds. Great American Group, LLC has been appointed as liquidation consultant as per the agreement. Under the agreement, debtor will be responsible for all the sale expenses. Consultant shall receive a merchandise fee of 0.75% of the proceeds and 15% of the net proceeds as FF&E fee and reimbursement of actual out of pocket expenses incurred in the sale. Debtor will officially launch the Store Closing Sales on September 14, 2016 and will conclude by October 28, 2016. The final hearing on store closing sale motion will be held on October 13, 2016.

Motion for Asset Sale Filed by Golfsmith International Holdings Inc.

Golfsmith International Holdings, Inc. filed a motion in the US Bankruptcy Court for approval of procedures for store closing sales on September 14, 2016. As per the motion, debtor has identified 20 stores that require prompt closure and liquidation of assets in these stores will yield $7.2 million in net proceeds. Debtor also seeks approval to assume a liquidation consulting agreement with Great American Group, LLC dated September 8, 2016. Under the agreement, debtor will be responsible for all the sale expenses. Consultant shall receive a merchandise fee of 0.75% of the proceeds and 15% of the net proceeds as FF&E fee and reimbursement of actual out of pocket expenses incurred in the sale. Debtor will officially launch the Store Closing Sales on September 14, 2016 and will conclude by October 28, 2016.

Motion for Asset Sale Filed by Golfsmith International Holdings Inc.

Golfsmith International Holdings, Inc. filed a motion in the US Bankruptcy Court for the sale of substantially all its assets on September 14, 2016. The debtor seeks the Court’s approval for the sale of substantially all its assets through an auction. The sale does not include debtor’s Canadian business, Golf Tow, which will be done through another transaction and will be approved by the Canadian Court. To qualify as a qualified bidder, interested parties should submit their bids by October 17, 2016. Each bidder must submit the good faith deposit 10% of the bid price. The debtor has scheduled an auction on October 19, 2016. The sale hearing is scheduled for October 28, 2016. The transaction is expected to complete by October 31, 2016.

Similar Private Companies By Industry

Company Name Region
#1 Cochran, Inc. United States
#1 Cycle Center, Inc. United States
1 Stop Electronics Center, Inc. United States
10 West Motorsports, Inc. United States
100MAC, Inc. United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
The Advertising Council, Inc. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Golfsmith International, Inc., please visit www.golfsmith.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.