Dick's Sporting Goods, teamed up with liquidators, won a bankruptcy auction on Friday for the U.S. business of Golfsmith International Holdings with a bid of about $70 million, according to a person familiar with the matter.
Dick's plan to keep at least 30 Golfsmith stores and wind down the rest, the person said. Dick's also plans to retain 500 Golfsmith employees, in addition to intellectual property and inventory, the person added, asking not to be identified ahead of any official announcement.
The outcome of the auction still has to be approved by a U.S. bankruptcy court judge.
Dick's and Golfsmith did not immediately respond to requests for comment.
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