Bankruptcy Judge Christopher Sontchi approved the sale of endurance event organizer Tough Mudder Inc. to rival Spartan Race Inc. for $700,000 in cash as well as the assumption of at least $7.5 million in liabilities, WSJ Pro Bankruptcy reported. Boston-based Spartan, which has more than 250 events in 40 countries with more than one million people participating annually in its obstacle and endurance races, plans to keep the Tough Mudder name. Spartan also plans to hold at least a half a dozen, and perhaps as many as 10, of the 25 events that Brooklyn, N.Y.-based Tough Mudder had scheduled in the U.S. this year. Spartan also recently bought Tough Mudder’s business in the United Kingdom and is in the process of buying its operations in Canada, a company representative said.
