Phoenix Coyotes file for bankruptcy

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Here's a twist: the ownership group of the Phoenix Coyotes of the National Hockey League filed for bankruptcy as the first step in a potential sale of the organization. The Coyotes claim to have lost money every year since arriving in Phoenix in 2001.

The team hopes to be purchased by the CEO of Research in Motion, makers of the BlackBerry, who will probably try to relocate the Coyotes to Canada. The NHL, meanwhile, was taken by surprise, and is "investigating the propriety of the bankruptcy filing" and the terms of the sale.

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Timely Demise tracks the retail industry as it changes with our unprecedented economic environment. Published by David Wertheimer. Did I miss something? Drop me a line.

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This page contains a single entry by David Wertheimer published on May 6, 2009 10:26 AM.

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