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Author Topic: United Sporting Cos. files Ch 11  (Read 187 times)

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Offline CTSixshot

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United Sporting Cos. files Ch 11
« on: June 11, 2019, 10:00:52 AM »

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So, I guess you'll have some bargain prices to look forward to...



Online LostCanuck

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Re: United Sporting Cos. files Ch 11
« Reply #1 on: June 11, 2019, 04:19:31 PM »
“The company, whose subsidiaries include Ellett Brothers LLC and Jerry’s Sports Inc., reported Ebitda of $4 million on net sales of $557 million last year -”

That’s is a pretty brutal Secured Leverage Ratio there.

“But Wellspring “cashed out” more than $183 million through dividend recapitalization deals in 2012 and 2013”.

Does that count as burying the lede?

Online mu2bdriver

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Re: United Sporting Cos. files Ch 11
« Reply #2 on: June 11, 2019, 06:03:04 PM »
Private equity has a knack for dividend recapitalization and bonding schemes to make them winners in an otherwise unwinnable financial situation.