NY Post: Dick's Sporting Goods Eyeing Bankrupt Golfsmith?

Thanks to the great Lou Brown for this Josh Kosman NY Post story suggesting that Golfsmith's bankruptcy filing has hit a snag and may lead to a completely collapse of the retailer, with Dick's Sporting Goods eyeing a takeover.

Kosman writes:

Private equity investor Ontario Municipal Employees Retirement System owns Golfsmith and shanked the 2012 investment by acquiring it in a $97 million leveraged buyout, which put the company in deep debt at the same time interest in golf waned.

OMERS combined Canada golf retailer Golf Town with Golfsmith, and now the company’s stores are almost evenly split between US and Canada.

“There’s just too much debt,” a source said, adding that the company would be profitable if it did not have interest payments on roughly $200 million in loans.