Local News

Bankruptcy Judge Approves Auction To Sell Schutt Sports

Tue, 30 Nov 2010 13:26:15 CST
(Litchfield)--A bankruptcy judge has approved an auction for Schutt Sports. According to the St. Louis Post Dispatch, Schutt Sports will be offered for sale at an auction next month after a federal bankruptcy court approved the firm‘s bid to sell the company.

U.S. Bankruptcy Court in Delaware approved holding an auction for Schutt and its assets on December 14th, with bids due by December 10th. According to court documents, the move comes a week after Delaware based Kranos Intermediate Holding Corporation made an offer to buy all of Schutt Sports assets.

Schutt Sports filed for Chapter 11 bankruptcy protection on September 6th after losing at 29 million dollar lawsuit against Riddell Incorporated.