Schutt Sports Inc., the exclusive provider of MLB bases and a major manufacturer of NFL helmets and faceguards, will try to sell its assets at a proposed bankruptcy auction in December, BusinessWeek reports. The initial offer is $25.1M from Kranos Intermediate Holding Corp.
Despite sales of $68.1M in 2009, Schutt faces a difficult economic outlook after a federal jury found it infringed on an invention founded by Riddell – the (non-exclusive) official helmet provider of the NFL and Schutt’s biggest competitor.
The company is liable for $29M in damages.
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