Total Hockey, one of the largest hockey equipment retailers in the United States looks like it will be sold through a United States Bankruptcy Court proceeding on Wednesday August 3, 2017.
The Owner of Pure Hockey, looks to be the only suitor for the Total Hockey chain and the offering price to purchase is in the vicinity of $22 Million dollars.
Since the bankruptcy filing, changes have been taking place within the Total Hockey stores. Total Hockey gift cards are no longer being sold in stores, though previously purchased gift cards are being honored. Some layoffs have also taken place in select retail outlets though none have been closed.
The sale, once slated to be an auction, has been expedited because Pure Hockey is the only entity interested in acquiring Total Hockey.
An objection has been filed by Bauer Hockey that may hinder or slow down the sale. Total Hockey owes Bauer Hockey 8.6 Million dollars for good that are still in the possession of Total Hockey and those good will likely either have to be returned or paid for in a priority manner through the sale proceeds.
Of question is the request that the court process the sale quickly. Representations from TSG, the company that owns Pure Hockey that the sale needs to proceed quickly in order to stock Total Hockey stores with skates, sticks and other equipment for the oncoming hockey season do not make sense. Those hard goods are traditionally ordered and purchased long before the month of August.
TSG is not only the parent company of Pure Hockey, but is also the parent company of Hockey Giant.
