Big Rock Sports, LLC filed for Chapter 7 liquidation on January 16, 2026, in the U.S. Bankruptcy Court for the Eastern District of North Carolina. Four affiliated entities filed alongside it. For vendors holding unpaid invoices, retailers losing a supplier, and lenders sizing up exposure, the first question is the same: what happens now?
The filing's amended schedules report more than $100 million in liabilities against roughly half a million dollars in listed property. Those numbers are unaudited and may change as claims are reviewed.
This article covers the reported financial position, what liquidation means, how the U.S. case differs from the Canadian subsidiary's proceeding, and how to track what comes next.
Key Takeaways
- Big Rock Sports, LLC filed Chapter 7 on Jan. 16, 2026, case 26-00208-5-JNC.
- Amended schedules report $100.9 million in liabilities, mostly unsecured; recoveries remain unknown.
- The Canadian subsidiary's bankruptcy is a separate proceeding from the U.S. case.
- Creditors should preserve records, watch for court notices, and consult bankruptcy counsel.
What Happened to Big Rock Sports?
The company and the filing
Fishing Tackle Retailer describes Big Rock Sports as a distributor of firearms, firearm accessories and fishing gear. Its website, undated, described a wider assortment spanning fishing, shooting, camping, taxidermy and marine goods, with 200,000+ SKUs and 20,000+ retailers. Treat those as company-published figures, not audited data.
Court records show:
- Debtor: Big Rock Sports, LLC, with four affiliated Chapter 7 debtors
- Court: U.S. Bankruptcy Court, Eastern District of North Carolina
- Trustee: Algernon L. Butler III, appointed Jan. 21, 2026
- Status at filing: the court said the debtors were no longer operating
| Related debtor | Case number |
|---|---|
| Big Rock Sports, LLC | 26-00208-5-JNC |
| Big Rock Holding, LLC | 26-00211-5-JNC |
| Calcutta Outdoors, LLC | 26-00212-5-JNC |
| BRS HQ, LLC | 26-00213-5-JNC |
| Peak Global Holdings, LLC | 26-00214-5-JNC |
The amended schedules said the five cases were not jointly administered at that time.
Reported finances
Amended schedules filed Feb. 24, 2026 for Big Rock Sports, LLC report:
- Total property: $521,306.75
- Total liabilities: $100,901,580.02
- Nonpriority unsecured claims: $83,235,444.20
- Secured claims: $17,666,135.82
- Priority unsecured claims: unknown
The schedules generally use a Sept. 30, 2025 reporting date and warn that values may differ materially from realizable values.
Earlier figures differ. SGB Media reported on Feb. 3, 2026 that the initial filing listed assets in a $10 million to $50 million range. The filing stage and valuation basis differ, so the figures are not interchangeable.
Reported creditors and causes
SGB Media, describing the court schedules, identified these unsecured categories. Treat all as scheduled, not finally established:
- Trade vendors, including Pure Fishing, Rather Outdoors and Okuma
- Litigation-related claims, such as Maine Pointe and Reece Supply
- Lease and property claims, including August 31 Holdings and 302 Saunders
- Financing and subordinated debt, including BLHIT Capital and Stephens Capital
- Seller notes
Court papers had not detailed a specific cause for the U.S. filing as of early February. Amended schedules say warehouse machinery and equipment was liquidated before the petition date.
Confirmed versus unclear
Confirmed by court records: the filing date, chapter, case numbers, trustee, and scheduled amounts. Still unclear: the cause of the collapse, management decisions, the future of related brands, and how retailers were affected. Trade reports on those points are commentary until filings say otherwise.
What Chapter 7 Liquidation Means in This Case
Chapter 7 versus Chapter 11
U.S. Courts describes Chapter 7 as liquidation. No repayment plan is filed. A trustee gathers and sells nonexempt assets and distributes the proceeds under the Bankruptcy Code. Chapter 11, by contrast, lets a debtor reorganize and generally stay in possession. A Chapter 7 business does not emerge as a going concern.
What the trustee does
- Secures and collects estate property
- Reviews records and investigates transactions, including avoidable transfers
- Sells assets
- Reviews claims
- Distributes proceeds by statutory priority
Who gets paid first
Under Section 726, allowed claims are paid in the order set by Section 507. In practice:
- Administrative expenses, such as trustee and professional costs
- Secured claims, to the extent of collateral value
- Priority unsecured claims, including qualifying wages
- General unsecured claims
- Late-filed claims, penalties, and then the debtor
An unsecured claim is not a guarantee of payment. Thin assets, disputes, liquidation costs, liens, setoffs and higher-priority claims all reduce what is left. With $521,306.75 in scheduled property against $83 million in unsecured claims, creditors should set expectations carefully.
Scheduled claims versus proofs of claim
A scheduled liability is not a filed proof of claim. The Eastern District of North Carolina said on Jan. 21, 2026 that creditors need not file yet because asset availability was unknown. If assets support a distribution, the Clerk will send a notice and deadline.
Deadlines need care. Amended Rule 3002 sets 70 days after the order for relief in a voluntary Chapter 7 case, and at least 90 days' notice if a no-dividend case turns into an asset case. Some older explainers still say 90 days. Rely on the rule and the court's notice, and check for a current bar date.
No later Big Rock bar-date notice is readily available on the docket. An early "no funds" statement is not a final outcome. Check the docket.
How the Filing May Affect Creditors, Vendors, Retailers, and Other Stakeholders
Trade creditors
Vendors face unpaid invoices, open purchase orders, goods in transit, returns, rebates and credits. Two statutory tools matter:
- Reclamation (Section 546(c)): a seller may seek goods delivered while the debtor was insolvent within 45 days before filing. Written demand is generally due within 45 days of receipt, or 20 days after filing in some cases. Prior security interests can take precedence.
- 20-day goods claim (Section 503(b)(9)): goods received within 20 days before filing and sold in the ordinary course can be an administrative-expense claim.
Action checklist
- Gather contracts, invoices and purchase orders
- Reconcile your account balance against the schedules
- Preserve emails and other communications
- Identify collateral, reclamation or setoff rights
- Review insurance coverage
- Retain qualified bankruptcy counsel
The automatic stay
Section 362(a) generally stops collection efforts, litigation on prepetition claims, repossession and lien enforcement. Exceptions exist, including certain governmental regulatory actions. A party may ask the court for relief from stay. Section 553 preserves setoff rights subject to limits, but acting on them after filing is constrained by the stay.
Retailers and the supply chain
Retailers may see shortages, brand-availability changes and warranty or customer-service gaps. Verify who owns inventory and any intellectual property before relying on stock in transit. Big Rock-specific retailer impacts are not readily available from public filings.
Employees
Qualifying wages earned within 180 days before filing have fourth priority, capped at $17,150 per individual for cases filed on or after April 1, 2025. The WARN Act generally requires 60 days' notice for covered closures, with exceptions.
A U.S. WARN notice or violation for Big Rock is not readily available in public records; confirm status with counsel or the trustee. The 72 terminations reported belong to the Canadian subsidiary. Employees should follow trustee notices and seek employment-law advice.
Investors and credit teams
Distressed investors and credit teams study cases like this for capital structure, claims trading, asset sales and recovery precedent. A distributor liquidation with $83 million in scheduled unsecured claims is a useful data point for trade-credit exposure.
Timeline, Court Records, and How to Monitor the Case
The U.S. case versus the Canadian proceeding
BRS Canada Acquisition Inc., a Big Rock Sports, LLC subsidiary, made an assignment in bankruptcy under Canada's Bankruptcy and Insolvency Act on Dec. 5, 2025. It was not a CCAA proceeding. KSV Restructuring Inc. was appointed trustee. The U.S. Chapter 7 case is separate, though the two are linked through intercompany dealings.
KSV's report said the Canadian company borrowed under its revolving facility to provide liquidity to Big Rock, and the intercompany receivable was estimated to have no realizable value. That finding concerns the Canadian entity, not a stated U.S. explanation. The subsidiary had three leased distribution centers and terminated all 72 employees.
Timeline
| Date | Event |
|---|---|
| Mid-2024 | KSV says Canadian intercompany cash-management transactions began around this time |
| Dec. 5, 2025 | BRS Canada assignment in bankruptcy; KSV appointed |
| Dec. 17, 2025 | KSV preliminary report; inventory sale nearly complete |
| Jan. 16, 2026 | Big Rock Sports, LLC and four affiliates file Chapter 7 |
| Jan. 21, 2026 | Trustee appointed; court says debtors no longer operating |
| Feb. 24, 2026 | Amended schedules filed |
| May 7, 2026 | Court calendar lists a motion to dismiss Big Rock Sports, LLC's case; confirm the outcome on the latest docket |
Do not assume the case is still open, was dismissed, or has a bar date without checking the latest docket.
Where to verify
- PACER (pacer.uscourts.gov): search case 26-00208-5-JNC and affiliated numbers. PACER pricing: $0.10/page, $3/document cap; fees waived at $30 or less per quarter.
- Eastern District of North Carolina court site (nceb.uscourts.gov) and its Big Rock information sheet
- U.S. Trustee Program (justice.gov/ust)
- Canada's Office of the Superintendent of Bankruptcy records search
- KSV's BRS case page for Canadian documents
Track changes in debtor entities, ownership, advisors, creditors, hearings and distributions rather than a single headline.
Monitoring with BankruptcyData
BankruptcyData, a U.S. bankruptcy and restructuring intelligence provider founded in 1986, offers a platform for law firms, investors, advisors and credit teams. It covers filings, court activity, stakeholders, restructuring timelines and outcomes, with docket monitoring, alerts, and 600k+ records spanning 45+ years. It does not provide legal advice and does not replace the official docket.
Frequently Asked Questions
What happened to Big Rock Sports?
Big Rock Sports, LLC reportedly filed Chapter 7 liquidation on Jan. 16, 2026, in the Eastern District of North Carolina, after its Canadian subsidiary went bankrupt in December 2025. Check the court docket for current status.
What is the difference between Chapter 11 and Chapter 12?
Chapter 11 generally lets businesses reorganize. Chapter 12 is for eligible family farmers and family fishermen. Big Rock's reported U.S. filing is under Chapter 7.
How long does Chapter 7 stay on record?
Court records are public through PACER. Separately, the CFPB says bankruptcy information may stay on a consumer credit report up to 10 years. That is a credit-reporting rule, not a docket-retention rule.
What does the filing mean for unsecured creditors?
Unsecured creditors share in distributions only after administrative, secured and priority claims are paid. Recovery depends on asset sales, claim review and court procedures, and none is guaranteed.
Where can I find updates about the case?
Use the Eastern District of North Carolina docket, PACER, trustee notices and any court-issued claims notices. For the Canadian subsidiary, check KSV's case page and the Office of the Superintendent of Bankruptcy.
