Sportsmans Warehouse, Inc. announced that the U.S. Bankruptcy Court for the District of Delaware has confirmed its Plan of Reorganization sponsored by an affiliate of Seidler Equity Partners, a private equity firm based in Southern California. The company expects to formally emerge from bankruptcy by August 15, 2009 and will continue to operate 26 stores across 14 states.
“We are excited to continue serving our loyal customer base and are grateful for the strong support of our vendor partners throughout the bankruptcy process. This support made our reorganization possible,” said Kevan Talbot, the company's Chief Financial Officer.
Larry Knight, the companys Vice President of Hardgoods, added “We remain committed to providing the product selection, shopping convenience and superior service that our customers and vendors have come to expect.”
The reorganized company will be led by new Chief Executive Officer, John Schaefer, a seasoned senior executive with significant sporting goods and other retail experience. Most recently, he served as the CEO of Internet, catalog and retail sporting goods company Team Express and was previously CEO of multi-channel retailer Cornerstone Brands and COO of sporting goods retailer Eastbay.
“Successfully exiting bankruptcy is a tremendous accomplishment Sportsmans is one of the few national retailers to do so in recent memory. We are confident that Sportsman's will remain America's Premier Outfitter under the direction of its experienced management team,” said Robert Seidler of Seidler Equity Partners.
For full story, go to today's issue of Sports Executive Weekly or The B.O.S.S. Report…
