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Bankruptcy Judge Slashes Stalking Horse Bid for Coolcore, Dr. Cool
A federal bankruptcy judge slashed the stalking horse bid for Tempnology LLC nearly 85 percent in a move to entice interest in its Coolcore and Dr. Cool performance fabric brands, which reputedly cool athletes without using chemicals...(10/8/2015)
City Sports Files for Bankruptcy, Seeks Sale of Stores
City Sports Inc. has filed for Chapter 11 bankruptcy protection. The Boston-based chain plans to hold going-out-of-business sales at eight of 26 stores and seek out a buyer for the remaining locations. The filing in the U.S. Bankruptcy Court in Wilmington, DE listed assets of $38.6 million and $39.6 million in liabilities. According to court papers, vendors are owed about a million and include Nike, Under Armour, Asics...(10/5/2015)
Academy Sports Turns to Outsider for CEO
Academy Sports + Outdoors selected James Kevin (J.K.) Symancyk, formerly president of Meijer Inc., as its next president and CEO to lead the next phase of its growth...(10/2/2015)
Crocs’ Near-Term Pressures Continue
While noting major progress on its transformation efforts at its annual analyst meeting last week, Crocs Inc. also lowered its guidance for revenues in the third quarter. The revision was attributed to unfavorable foreign currency exchange rates and the company's decision to hold back orders to select China distributors in the third quarter...(10/2/2015)
Skateboarding, Climbing, Baseball Make Short List for 2020 Olympics
The Tokyo organizing committee recommended five additional sports - baseball/softball, surfing, skateboarding, karate and climbing - for the 2020 Tokyo Olympics. Bowling, squash and wushu failed to make the cut from among eight finalists...
Sportsman's Warehouse No Longer Controlled by PE Patron
Seidler Equity Partners (SEP), which took Sportsman's Warehouse Holdings Inc. from bankruptcy to an initial public offering between 2009 and 2014, reduced its stake in the rapidly growing retailer below the 50 percent mark last week through a secondary offering...(10/2/2015)
USATF to Share More Revenue With Athletes
USATF (U.S.A. Track & Field) designed a formula to distribute an extra $9 million in cash to top athletes and also took steps to clarify language in a much-debated form that runner Nick Symmonds refused to sign before this year’s world championships...
Phil Knight Talks Past and Future
In his first interview since revealing his retirement plans in June, Nike's founder Phil Knight talked to USA Today about the past but also about competitive threats from Under Armour and Adidas...(10/2/2015)