Modell’s Sporting Goods is getting ready to close its doors for good.
The family-owned retail chain filed for Chapter 11 bankruptcy on Wednesday (March 11th) after failing to compete with online stores.
Current owner Mitchell Modell said in a statement, “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.”
Before making this announcement, the company attempted to talk with its stakeholders and have also received support from their vendors and landlords.
The company was founded in 1889 and operates over 150 stores in Virginia, New York, Rhode Island, New Hampshire, New Jersey, etc.
The company’s liquidation sales are set to begin this Friday, (March 13th).