Performance Sports files for bankruptcy, rescue deal on table: Reuters
Performance Sports Group Ltd, the maker of Bauer ice hockey gear, said it has filed for bankruptcy protection in the United States and Canada to facilitate a restructuring and sale of almost all of its assets, Reuters reported. The company also said it has entered into an asset purchase agreement with an investor group led by its biggest shareholder, Sagard Capital, and Fairfax Financial for US$575 million, under which they will buy almost all of the company's assets. The investors will also serve as "stalking horse" bidders through the restructuring process.
31 October 2016•2 mins read
