Modell’s Sporting Goods Poised to File for Chapter 11 Bankruptcy
Modell’s Sporting Goods, the 130-year old athletic gear company with 140 leases, appears to be readying for Chapter 11 bankruptcy protection. The New York Post reported that the company has ceased both seeking an investor and better terms from its vendors.
The Real Deal reported that the company may have Denver-based sportswear retailer JackRabbit as a buyer. JackRabbit purchased Olympia Sports last year.
If Modell’s files, it will join prior sporting goods retailers, who have filed for bankruptcy protection during the last few years, including Sports Authority, EMS, and Gander Mountain.