Reuters reports Gander Mountain, the St. Paul based hunting and fishing chain, is preparing to file for bankruptcy. The bankruptcy is reportedly due to aggressive expansion that failed to draw new customers. Gander Mountain is known as America’s firearms superstore.
Reuters reports that Sports Direct International Plc, Britain’s largest sporting goods company with about 700 stores throughout Europe, is discussing a bid for Eastern Outfitters LLC (“Eastern Outfitters”), the parent of Bob’s Stores and Eastern Mountain Sports (“EMS”). Versa Capital Management LLC (“Versa”) is the owner of Eastern Outfitters. Last April, Vestis Retail Group LLC,… Continue Reading
On the heels of The Limited bankruptcy filing, another retailer appears to be on the precipice of Chapter 11. Gymboree (Gymboree Corp.) reported yesterday that its CEO, Mark Breitbard, will be stepping down once a successor is appointed. Breitbard will assume the role of Chairman of the Board effective February 1st.
As predicted last week, U.S. women’s apparel chain The Limited filed for Chapter 11 bankruptcy protection today in the United States Bankruptcy Court for Delaware on Tuesday, after closing all 250 stores, under case number 17-10124. See 10 Retailers to Watch for Possible Bankruptcy Filings in 2017. This filing continues the trend in the competitive… Continue Reading
2016 ended on a high note with higher than expected holiday sales and overall a better real estate market. However, there were a number of retailers that sought bankruptcy protection. Some of the retailers, like Fairway and EMS, emerged as new entities in Chapter 11 bankruptcy proceedings while their operations continued. Yet others, like Sports… Continue Reading
Golfsmith International, Inc., a specialty golf retailer with 109 Golfsmith stores across the U.S. and 55 Golf Town stores in Canada, filed for Chapter 11 bankruptcy protection in Wilmington, Delaware on Wednesday, September 14, 2016. This case follows other large sports retailer bankruptcy cases, including Sports Authority and Eastern Mountain Sports, who both filed Chapter… Continue Reading
Last week, South Korea’s Hanjin Shipping Company (“Hanjin”) filed for bankruptcy protection under the Debtor Rehabilitation and Bankruptcy Act in the Seoul Central District Court in South Korea. As the world’s seventh largest container shipper servicing 8% of the Trans-Pacific trade in the United States, Hanjin’s bankruptcy filing is cause for concern for landlord retail… Continue Reading
On the heels of the Joyce Leslie and Sports Authority Chapter 11 bankruptcy filings, another retailer just filed for Chapter 11 bankruptcy protection, and it appears that two (2) more retailers are preparing to file to reorganize. PacSun, more formally known as Pacific Sunwear of California, Inc., just filed for Chapter 11 bankruptcy protection this… Continue Reading
Timothy Duggan, Esquire and Chris Florio, Esquire of Stark & Stark, as Amicus Curiae (friend of the Court), were successful in convincing the United States District Court for the District of New Jersey to reverse a bankruptcy court decision, which allowed a bankruptcy condominium owner to avoid paying a condominium lien in full under a bankruptcy plan. The Condominium Association Institute… Continue Reading
This morning, Sports Authority, Inc. (“Sports Authority”) filed for Chapter 11 bankruptcy protection in the United States District of Delaware, Bankruptcy Court, case # 16-10529. The retailer with more than 450 stores is expected to close about 140 locations within the bankruptcy proceeding. Sports Authority was once the biggest sporting-goods chain in the U.S., but… Continue Reading