EAST BRUNSWICK, NJ—Golfsmith, which is now owned by Dick’s Sporting Goods, is hosting closing sales at all four of its Garden State locations.
How much longer will the stores remain open?
While the store manager in East Brunswick said they were “hoping for the end of December,” but weren’t sure yet, a manager in Bridgewater said they didn’t have a final date.
“We are not sure how much longer we’ll be here,” he told a customer.
A team of liquidators has been brought in to manage the liquidation of the inventory, fixtures, and equipment as the stores close for good.
A joint venture of Gordon Brothers, Hilco Merchant Resources, and Tiger Capital Group, are conducting the store closing sales, according to a press release from Hilco.
The store in Bridgewater reportedly had as many as 15 employees. All full and part-time employees in East Brunwick and Bridgwater will lose their jobs in the shuffle.
All four New Jersey Golfsmith stores are holding “Store Closing” sales and selling-off remaining inventory at a discount which will likely increase in coming weeks. All sales are final.
Discounts of up to 30% off the original prices are being offered at all closing locations, says the release, which advertises savings on apparel, footwear, all drivers, woods, irons, balls, bags, carts, rain gear, accessories and more.
Moreover, stores are still bringing in “shipments from the warehouse,” so plenty of merchandise is available, notes the release. Even “rarely discounted” items will also be reduced.
Unfortunately, Golfsmith gift cards were only accepted through Saturday, November 11, according to the release.
The four New Jersey locations are:
- Bridgewater — 315 Promenade Blvd.
- East Brunswick — 678 Route 18 North
- Woodland Park — 1750 Route 46 West
- Moorestown — 401 Route 38 @ Lenola Rd., Suite #12B
On November 4, the ailing retailer said it would keep 30 US stores open but none in New Jersey, New York, or Pennsylvania.
Of the 16 states where stores will remain, Florida will retain 5 stores — the most of any state.
Golfsmith reportedly backed off a plan to revitalize and reorganze when it realized it could not secure enough financing after filing for bankruptcy to keep retail operations going in to the holidays when sales would surely increase.
And on October 31, it received the approval it needed to sell the majority of its assets to Dick’s, along with a group of liquidators, in a so-called mixed sale for $69 million.
But on November 15 Dick’s said it paid $43 million to acquire some assets of bankrupt Golfsmith and will convert the 30 Golfsmith stores it now owns to its Golf Galaxy brand in coming months. The Company also committed to offer employment to at least 500 current Golfsmith employees, it said.
What’s more, Dick’s aquired lease definition rights for all the Golfsmith stores, meaning it can either keep the lease for its own use, or sublease it to another company.
New York will also see four stores close for good, including one in Manhattan.
Each of the New York locations will also be having closing sales:
- East Northport — 4097 E. Jericho Turnpike
- Lake Grove — 3220 Middle Country Rd.
- Manhattan — 641 Lexington Ave.
- Scarsdale — 1019 Central Park Ave.
In Pennsylvania, the only Golfsmith will also close after the liquidation:
- Willow Grove — 3975 Welsh Rd.
“This is a truly outstanding savings opportunity for all golfing enthusiasts, as well as for anyone with a golfer on their holiday gift list,” said a spokesperson for the liquidators.
“We expect [merchandise to sell-out quickly] because of the very significant price reductions being offered on a full assortment of top quality merchandise at these … superstores.”
The group is counting on whatever golf enthusiasts remain–a number that has declined in recent years, following the so-called “Tiger Woods phenomenon”–to buy up merchandise and even the fixtures within the stores.
“I’ll never be able to do for golf what Tiger did. He was a phenomenon, he brought so many more people into the game because of his background and how he started on tour,” Rory McIlroy told BBC Sport a couple years ago.
“The one thing I’ve learned from Tiger, from getting to know him, is how hard he works — the ones who work the hardest do the best.”
Dave is an award-winning business reporter who has authored over 200 articles for New Brunswick Today.