Vestis 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