Golfsmith bankruptcy brings fresh woes to Under Armour, Nike
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THE bankruptcy of golf retailer Golfsmith International Holdings Inc brings another round of suffering to the world's biggest athletic brands, which are still reeling from the shutdown of Sports Authority Inc earlier this year.
Nike Inc, Adidas AG and Under Armour Inc all have a substantial business with Golfsmith, which filed for Chapter 11 bankruptcy on Wednesday. The chain has 109 stores in the US and 55 in Canada, making it the largest dedicated golf retailer in North America.
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