Gordon Brothers Retail Partners LLC won the right to liquidate Ski Market Ltd.’s stores after beating out five other bidders in a bankruptcy auction.
Judge Henry J. Boroff of the U.S. Bankruptcy Court in Boston will consider approving Gordon Brothers offer to liquidate the inventory at Ski Marker’s seven Northeast stores.
If Gordon Brothers bid gains court approval, the liquidator would kick off going-out-of-business sales by Saturday. The sales, from which Ski Market is guaranteed payment of 75.25% of merchandise worth at least $1.8 million, would run no later than March 31.
Ski Market filed for Chapter 11 bankruptcy protection on Dec. 29, 2009, immediately seeking to sell its business as a going concern. However, the six bids that came in were all from liquidators seeking the right to run store-closing sales.
The other bidders were Great American Group LLC, Hilco Merchant Resources LLC, Hudson Capital Partners LLC, a joint venture of SB Capital Group LLC and Tiger Capital Group LLC, and another joint venture of Solid Assets Solutions LLC and Liquid Asset Partners LLC.
Based in Wellesley, Mass., Ski Market sells skis, snowboards, bicycles, skateboards and related apparel and accessories. Most of its seven stores–which numbered 15 until recently–are located in Mas
