Update: Vestis Retail Group Files Bankruptcy
Vestis Retail Group LLC, owner of outdoor retailer Eastern Mountain Sports, family footwear-and-apparel seller Bob’s Stores, and sporting-goods retailer Sport Chalet, has filed for Chapter 11 protection, the company announced Monday.
What We Reported Earlier:
Sporting goods retailer Sport Chalet is closing its doors.
On Friday, the regional chain with locations in California, Arizona, Nevada and Utah shut down its e-commerce site and started the process of closing its 50 or so stores.
In an announcement on sportchalet.com, the company said all of its stores would remain open for “several weeks,” allowing customers to use their remaining rewards and gift cards and to also take advantage of sales.
Sport Chalet gift cards, rewards certificates and store credits will be honored in Sport Chalet stores through April 29, the company added.
The news follows an announcement in early April from Sport Chalet’s parent company, Vestis Retail Group LLC, which stated that the firm was “evaluating a number of strategies to strengthen the business.”
Insiders have been speculating that the company, which also owns and operates outdoor retailer Eastern Mountain Sports and family footwear-and-apparel seller Bob’s Stores, is on the verge of filing for bankruptcy, although Vestis would not confirm the reports.
Sport Chalet said it is allowing customers unable to make it to one of its locations before the closings to transfer their gift card balances by July 29 to a gift card from Vestis chains Eastern Mountain Sports or Bob’s Stores.
The retailer has also asked customers to pick up any equipment left at its stores for repair no later than April 29 and to also return Sport Chalet rental equipment before that date.