Dick's (DKS) Expected to Capture 15-25% of TSA Foregone Revenues - Goldman Sachs
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March 2, 2016 9:16 AM EST
As was widely expected, Sports Authority announced that today Sports Authority and several of its affiliates filed voluntary petitions to restructure under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the Court). In conjunction with the Chapter 11 filing, the Company expects to have access to up to $595 million in debtor-in-possession (DIP) financing. Subject to Court approval, the DIP financing, combined with the Companys cash from operations, is expected to provide sufficient liquidity during the Chapter 11 process.
We are taking this action so that we can continue to adapt our... More
March 2, 2016 9:02 AM EST
TSA Stores, Inc. (Sports Authority or the Company) announced that today Sports Authority and several of its affiliates filed voluntary petitions to restructure under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the Court). In conjunction with the Chapter 11 filing, the Company expects to have access to up to $595 million in debtor-in-possession (DIP) financing. Subject to Court approval, the DIP financing, combined with the Companys cash from operations, is expected to provide sufficient liquidity during the Chapter 11 process.
We are taking this action so that we can continue to adapt our... More
