SAM Magazine--January 13, 2010--After filing for bankruptcy protection, the East Coast retail chain, Ski Market, was granted permission by the bankruptcy court to find a buyer by February 12. According to published reports, the future buyer would get Ski Market free and clear of its current debts.

Ski Market owes more than $4 million to its local bank, and since the bankruptcy filing, decided not to honor more than $200,000 in gift cards.

On February 1, an auction will take place at the bankruptcy court in Springfield, Mass., with a final hearing set for February 5.