July 21, 2017 11:44 AM ET

Specialty Retail

Company Overview of Michigan Sporting Goods Distributors, Inc.

Company Overview

Michigan Sporting Goods Distributors, Inc. operates as a retailer of sports equipment, footwear, and apparel in the Midwest. It offers action sports products, such as trampolines, cycling solutions, paddle sports solutions, extreme sports products, and winter products. The company also provides apparel and footwear for men, women, and youth. In addition, it offers fitness products, including treadmills, yoga products, bikes, elliptical solutions, strength products, martial arts products, boxing products, and accessories; and products for indoor and outdoor games, such as billiards, table tennis, foosball, air hockey, badminton, toss games, and others. Further, the company provides golf and t...

3070 Shaffer S.E.

Grand Rapids, MI 49512

United States

Founded in 1946

Phone:

616-942-2600

Fax:

610-491-7451

Key Executives for Michigan Sporting Goods Distributors, Inc.

Chief Executive Officer and President
Vice President and GMM
Compensation as of Fiscal Year 2017.

Michigan Sporting Goods Distributors, Inc. Key Developments

Motion for Asset Sale Approved for Michigan Sporting Goods Distributors, Inc.

The US Bankruptcy Court gave final order approving Store Closing Sales of 68 retail store Michigan Sporting Goods Distributors, Inc. on March 20, 2017. The Court has authorized store-closing sales of debtor’s certain assets and debtor to assume the consulting Agreement with Tiger Capital Group, LLC and Great American Group, LLC. The asset includes, inventory and certain furniture, fixtures, equipment and other assets that Debtor owns at its 68 retail store locations. Consultants will earn a fee based on the gross proceeds and the agreed upon consultant’s percentage. The sales must be completed by April 30, 2017.

MC Sports Up For Sale

MC Sports’ plan to sell off merchandise at its 68 stores in seven states won the interim approval of U.S. Bankruptcy Judge John T. Gregg. MC Sports still is trying to find a buyer who will take over some or all of the chain’s stores in seven states, Grow said. But absent a rescue, the company will sell off all of its existing merchandise by early May 2017.

MC Sports Closes All 66 of Its Stores Across the Midwest

MC Sports is closing all 66 of its stores across the Midwest, providing shoppers in seven states with significant discounts on over $110 million of top-name sporting goods and apparel brands. A joint venture between Tiger Capital Group and Great American Group will conduct the going-out-of-business sale, which is now underway. MC Sports was one of the few remaining privately held sporting goods chains in the country. It filed for Chapter 11 bankruptcy protection on February 14, 2017 in the U.S. Bankruptcy Court Western District of Michigan, Grand Rapids.

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Recent Private Companies Transactions

Type
Date
Target
Bankruptcy
February 14, 2017
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