Modell’s Struggles to Keep Family Sporting-Goods Empire Alive
- Cash flow pinched by slow holiday sales and 2019 vendor snafu
- CEO said he hopes vendors, landlords cooperate in turnaround
A Modell's Sporting Goods store in New York.
Photographer: Michael Brochstein/SOPA Images/LightRocket via Getty Images
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Mitchell Modell, chairman and chief executive officer of Modell’s Sporting Goods Inc., has a framed letter from his grandfather, Henry Modell, hanging on the wall of his New York City office. He said he likes to look it over, to remind him what’s at stake as he struggles to keep the 131-year-old family business afloat.
“Keep and cherish the good name of Modell as long as you live,” the letter reads.