Golfsmith May Be Filing for Bankruptcy

August 7, 2016

Golfsmith International, the Austin, Texas-based golf specialty retailer operating Golfsmith stores in the U.S. is considering filing for bankruptcy as it seeks a new owner, according to a Bloomberg report released Thursday.

The 150-store chain who, along with Golf Town stores in Canada, which is owned by OMERS Private Equity, has hired Alvarez & Marsal to help it restructure, as well as the investment bank Jefferies LLC to solicit buyers, with the chance that a sale would be part of a Chapter 11 filing.

The news comes as another shock to the golf industry, following Nike’s announcement on Wednesday that it’s exiting the equipment business to refocus on golf shoes and clothes.