Retail Ecommerce Ventures acquired Modell's Sporting Goods, which filed for bankruptcy in March and is liquidating all its stores, at a bankruptcy auction for $3.64 million. In late 2019, REV acquired the intellectual property assets of the Dressbarn, pivoting the clothing brand's business model to an e-commerce model.
Why did Modells go out of business?
The bankrupt retailer had begun sales in mid-March, but was forced to shut down its outposts across the Northeast and Mid-Atlantic weeks later, as the coronavirus crisis began ramping up. Now, it is resuming sales at 107 of its remaining stores, beginning immediately.
Is Modell's still in business online 2021?
Modell's, a fourth-generation family-owned business with a flamboyant CEO, Mitch Modell, filed for bankruptcy protection March 11 and is now liquidating the business.
Is Modell's Sporting Goods still in business online?
Type Private
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Founder Morris Modell
Defunct (physical retail stores)
Why did Modell's Sporting Goods go out of business?
Modell's Sporting Goods' going-out-of-business sales are back on. The bankrupt retailer had begun sales in mid-March, but was forced to shut down its outposts across the Northeast and Mid-Atlantic weeks later, as the coronavirus crisis began ramping up.
Is Modell's still in business 2021?
NEW YORK Modell's Sporting Goods, the century-old family-owned sporting goods chain, has filed for Chapter 11 bankruptcy and will be closing its remaining 100-plus stores. It becomes the latest traditional retailer to succumb to a fast-changing environment.
Is Modells still open online?
The Modell's web site, which broadcasts going-out-of-business sales as all stores are liquidated, is not yet accepting online orders. Before declaring bankruptcy in March, days before COVID-19 stay-at-home orders went into effect, Modell's operated 141 stores in the Northeast and Mid-Atlantic states.