Bankrupt retailer to sell LV outlet

Thursday, Nov. 16, 2000 | 11:35 a.m.

Nevada Bob's Golf Inc., which filed for bankruptcy protection in the United States and Canada late last month, plans to sell its newly opened specialty golf equipment store on the Las Vegas Strip.

The Calgary, Alberta-based company opened a 7,000-square foot store on the Strip across from the Luxor hotel-casino in February after closing its store at 4043 South Eastern Ave. just before Christmas last year. The new Las Vegas store has six workers.

Nevada Bob's Golf, which completed its merger late last year with Nevada Bob's Canada Inc., Nevada Bob's Pro Shop Inc. and GDH International Inc., filed for reorganization on Oct. 26 as part of the company's overall restructuring plan, with the consent of its secured lenders.

Only the company and its corporate-owned stores are involved in the bankruptcy proceedings, not the independent franchised stores in the Nevada Bob's system. Nevada Bob's Pro Shop Inc. had filed for Chapter 11 bankruptcy in March 1999.

"We're in negotiations with potential buyers for the Las Vegas store," said Isadore Abrams, Nevada Bob's chief restructuring officier. "This corporate- owned store will be sold back into (Nevada Bob's) franchise system."

Nevada Bob's Golf Inc. has 248 stores worldwide, of which 85 are corporate- owned and the remaining 163 are franchised operations.