Dick’s Sporting Goods is not leaving the golf business. At least not soon. The sports equipment retailer reportedly won a bankruptcy auction for the domestic business of Golfsmith for $70 million.
This comes six weeks after Golfsmith filed for bankruptcy. According to the report from Reuters, Dick’s will sustain at least 30 Golfsmith stores and 500 employees from the popular golf retailer. As of Friday, the auction was still awaiting approval from a U.S. bankruptcy court judge.
Dick’s already owns another golf store in Golf Galaxy, but will gain a large amount of inventory in winning the auction, as Golfsmith hailed 109 stores in the United States as of September, 2016. You can find the entire report from Reuters here.