Monday, April 18, 2016

Eastern Mountain Sports in Bankruptcy as Shopping Habits Change

Image result for eastern mountain sportsVestis Retail Group LLC, the operator of outdoor gear retailer Eastern Mountain Sports, filed for bankruptcy protection after failing to adjust to changes in U.S. shopping habits, especially among young people.

Vestis, which also runs the Sport Chalet and Bob’s Stores chains, is owned by Philadelphia-based private equity firm Versa Capital Management. Its Chapter 11 petition filed Monday in Wilmington, Delaware, listed as much as $500 million in liabilities and less than $50,000 of assets.. . . more

No comments: