Vestis Retail Group LLC said it is exploring several strategies to strengthen its business after reports circulated Wednesday that the company would soon file for Chapter 11 bankruptcy protection.
“Vestis continually looks for opportunities to position its stores for long-term growth and success and, as such, is evaluating a number of strategies to strengthen the business,” the company said today in an emailed statement to Footwear News.
The firm, a portfolio company of Versa Captial Management, LLC, owns and operates outdoor retailer Eastern Mountain Sports, family footwear-and-apparel seller Bob’s Stores, and sporting-goods retailer Sports Chalet.
News that the company would file bankruptcy yielded debates about the future of retail as a Chapter 11 filing for Vestis would follow bankruptcy filings of other footwear, apparel and sporting goods retailers City Sports, The Sports Authority Inc., Pacific Sunwear of California Inc. and American Apparel.
“We will share additional updates as and when decisions are made,” Vestis noted in its statement. “Meanwhile, we continue to focus on executing our long-term strategic plan, and all our stores — Eastern Mountain Sports, Bob’s Stores and Sports Chalet — continue to operate as usual, offering our customers the top outdoor, apparel and footwear fashions from their favorite brands.”