Modell’s Sporting Goods Prepares Bankruptcy Filing, CEO Says
- Chapter 11 bankruptcy filing could come as soon as Sunday
- Talks with its vendors and landlords have came to standstill
Photographer: Scott Eells/Bloomberg
This article is for subscribers only.
Modell’s Sporting Goods Inc. is preparing a bankruptcy filing that could come as soon as Sunday after the retailer failed to garner enough support from its vendors and landlords.
Following weeks of negotiations with its stakeholders, the family-owned retail chain is looking to file for Chapter 11 protection and sell assets through a court-supervised bidding process, Chief Executive Officer Mitchell Modell said in an interview Friday.