Game Over: The Bankruptcy of a Sporting Goods Giant

A well-known sporting goods retailer has gone bankrupt by the millions, according to an article from The Observatorial. The company specializes in the sale of sporting goods, particularly in the team sports area, both in direct sales and via other channels. The causes of the bankruptcy are not specified in the article.

Several sporting goods retailers have filed for bankruptcy in recent years, including Modell’s Sporting Goods and Olympia Sports. Modell’s filed for Chapter 11 bankruptcy protection in March 2020 and eventually resorted to liquidating its remaining 134 store locations. Olympia Sports’ intellectual property was put up for sale after the Maine-based sporting goods retailer filed for Chapter 11 bankruptcy in 2023. Retail Ecommerce Ventures acquired Modell’s Sporting Goods, which filed for bankruptcy in March 2020 and is liquidating all its stores, and plans to relaunch it as an e-commerce site under new ownership.

Several sporting goods retailers have filed for bankruptcy in recent years. Here are some examples:
Sports Authority: a big box store with a similar model to Dick’s went bankrupt in 2016.

Eastern Mountain Sports: failed in 2016.Modell’s Sporting Goods: filed for Chapter 11 bankruptcy in March 2020 and eventually resorted to liquidating its remaining 134 store locations.Olympia Sports: a regional chain in the Northeast founded in 1975, went bankrupt in July 2022.

MC Sports: filed for bankruptcy in February 2017 and liquidated all 68 of its stores.Golfsmith: filed for bankruptcy protection in September 2016, closed two-thirds of its stores and sold the remaining ones.

Sport Chalet: the 47-store chain based in southern California shut down in 2016 after 57 years.
Eastern Outfitters: the company that owns discount chain Bob’s Stores and outdoor retailer Eastern Mountain Sports filed for bankruptcy protection in February 2017.

These bankruptcies were caused by various factors, including mounting debt, retailers’ own missteps, lack of adaptability, and the rise of e-commerce