Modell’s Sporting Goods
On March 11, Modell’s Sporting Goods filed for Chapter 11. After struggling to find a buyer, the family-owned sporting goods chain will liquidate its remaining stores. Closing stores in 2020: 153. If you’ve ever been to New York City, where it seems there are almost as many shops as there are subway stations, you’re probably familiar with Modell’s Sporting Goods. Times Square, in reality, had two models just one block away from each other. But they’re shutting down now, along with all the company’s other stores around the U.S. East Coast.
In February, Modell’s said it would shut 24 of its stores, but the chain filed for bankruptcy a few weeks later and announced it would shut down all of its locations, from Massachusetts to Virginia. Company executives blame the decline of Modell on: stiff competition from big-box retailers and Amazon; weak seasons for sports teams in the region; last year’s shorter holiday shopping season; and warm weather that affected jacket and other outerwear sales.