Dick’s Buys Golfsmith. Now What?


Golfsmith

GolfsmithAt bankruptcy auction, Dick’s Sports Goods was the high bidder for Golfsmith International Holdings Inc.

Dick’s offers golf equipment in each of its sporting goods stores. The company also owns the Golf Galaxy franchise as well, with Northeast Ohio stores in North Olmsted and Fairlawn.

Golfsmith has Northeast Ohio stores in Fairlawn and in Warrensville Heights.

In fact, Fairlawn has Golf Galaxy, Golfsmith and Dick’s stores all within a square mile.

The winning bid was in the neighborhood of $70 million, according to a Reuters report.

Also per the report: Dick’s intends to keep around 30 Golfsmith stores open and liquidate the rest.

At the time of last month’s bankruptcy filing, Golfsmith operated 109 stores in the U.S. The filing also revealed the company owed nearly $200 million in outstanding loans or credit facilities.

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