It appears that Edwin Watts Stores will be back to business as usual. A bankruptcy court cleared the way Thursday for the $40.8 million sale of golf retailer Edwin Watts to a pair of purchasers, according to a Wall Street Journal report.
The duo of GWNE, Inc., and Hilco Merchant Resources LLC paired to win the rights to the retailer through a bankruptcy auction earlier this week. The move could reportedly allow the chain, which employs 648 people across its 91 U.S. locations, to keep some of its stores open, as papers filed in bankruptcy court by the purchasers included plans to retain lease agreements at 49 locations.
I spoke with a manager of one of their stores in Memphis over Thanksgiving and he was excited about the new take over. Sun Capital had run them in the ground along with their credit. I wish them well.