Golfsmith files for bankruptcy

It has been announced that the American company Golfsmith International Holdings Inc, the largest dedicated golf retailer in North America, have filed for bankruptcy.

The firm – which has 109 stores in American and 55 in Canada – entered bankruptcy after failing to find a buyer, although according to Bloomberg there is an offer on the table to buy the stores which are located in Canada.

Big brands such as Nike, Callaway, UnderArmour and Adidas among others all have significant amounts of stock in the chain, so it remains to be seen how they will be affected financially.