On the heels of Nike's announcement that it is getting out of the golf equipment business comes a report that a prominent retailer of golf clothing and equipment is considering filing for bankruptcy.
Bloomberg cited "people with knowledge of the situation" in reporting that Golfsmith International, an Austin, Texas-based chain with approximately 150 stores, is considering filing for Chapter 11 bankruptcy as it looks for a new owner.
According to Bloomberg, Golfsmith has hired investment bank Jefferies LLC to solicit buyers for the chain, and has hired professional services firm Alvarez & Marsal to help it restructure.