Dick's Sporting Goods eyes death spiral at Golfsmith

• Golfsmith is teetering on the edge of bankruptcy, reports the New York Post.
• The retailer is facing a dire situation after failing to sell itself.
• Sources indicate that Dick's Sporting Goods (NYSE:DKS) could snap up the golf retailer if it files for a Chapter 11 bankruptcy.
• Golfsmith operates 150 stores in the U.S. and Canada.