Modell’s Sporting Goods have filed for chapter 11 bankruptcy and will close all remaining stores. Liquidation sales are actively going on at all stores.
“Over the past year, we evaluated several options to restructure our business to allow us to maintain our current operations, While we achieved some success, in partnership with our landlords and vendors, it was not enough to avoid a bankruptcy filing amid an extremely challenging environment for retailers.” – Mitchell Modell, Modell’s CEO
Modell’s is actively in talks with financial creditors to the possibility of recapitalization of its business through a potential sale of some or all of its assets.
