Modell’s Sporting Goods to Close ALL Stores After Filing for Bankruptcy Protection
Modell’s Sporting Goods will be closing ALL stores, according to a report filed in bankruptcy court earlier today (March 11).
The company had previously announced plans to close 19 stores (some of which were in our area), but today’s announcement indicates that closure sales will begin at ALL of the company’s remaining stores, Reuters reports.
Liquidation sales at the company’s remaining locations will begin this Friday (March 13), Bloomberg.com reports. The company had been trying to line up support from vendors and vendors, but “ultimately fell short,” they say.
The company operates 153 stores, with several left in our area including Bensalem, PA, Franklin Mills (Philadelphia), PA, and Hamilton Township, NJ. The company had previously announced plans to close store in King of Prussia, PA and West Berlin, NJ.
Mitchell Modell (the company’s fourth-generation owner) told Bloomberg.com earlier this year that the company’s revenues were hit hard by a disappointing holiday season, poor seasons from local sporting teams, and warmer weather (leading to fewer outwear sales).
The exact closing dates for stores in our area were not made clear immediately.