BOSTON, MA (BRAIN)—The assets of bankrupt Ski Market could be sold by early next month, according to a notice filed last Friday in U.S. Bankruptcy Court.
Deadlines for bids and deposits for Ski Market are due Jan. 27, followed by the initial sale hearing and auction on Feb.1. The final sale hearing is Feb. 5 with the closing to take place by the following week, according to the filing.
The sale will include unexpired leases on seven Ski Market locations, and assets including skis, snowboards, bicycles and skateboards, apparel and accessories, as well as trademarks, a Web site and domain name for the Ski Market, St. Moritz and Underground Snowboards brands.
The family-owned New England ski and bike retailer filed for Chapter 11 bankruptcy protection on Dec. 29. Its unsecured creditors include its biggest bike vendors, Raleigh, Scott and Marin. Each of those companies has a representative on the Unsecured Creditors Committee, which was also appointed last Friday. Ski Market also owes about $2.75 million to its top 20 unsecured creditors and $5.2 million to its secured creditors, the latter of which have first priority on funds from the sale of the company.
The Feb. 1 sale hearing is scheduled for 10 a.m. at U.S. Bankruptcy Court in Springfield, Massachusetts.
—Nicole Formosa
