Eastern Outfitters LLC, parent company of Eastern Mountain Sports and Bob’s store, wants to close about half of its store – including 27 of its 51 EMS stores.
Two of the stores targeted to close are at Destiny USA and Towne Center in Fayetteville, according to bankruptcy court documents.
The Meriden, Conn.-based company filed for bankruptcy protection in February. The plan to close the stores still needs bankruptcy court approval.
There is no word yet on when the stores will close.
Eastern Mountain Sports sells outdoor and camping gear and supplies.
Bob’s Stores sells sneakers and clothing. The retailer wants to close 21 of its 35 Bob’s Stores.
Eastern Outfitters had planned to close all its store, but Sports Direct signed an agreement to provide an $85 million loan to help it repay some of its debts, and is looking at possible acquisition of some of the locations, according to The Wall Street Journal.
Eastern Outfitters listed assets and liabilities in the range of $100 million to $500 million, according to Fortune.
Eastern Outfitters is owned by private equity firm Versa Capital Management, which acquired Bob’s and Eastern Mountain Sports through the bankruptcy last year of Vestis Retail Group, the previous owner of the store chains.
Versa said at the time that Eastern Outfitters had more than $400 million in annual revenue. The two retailers and Sports Chalet were indirectly owned by Versa when it filed for Chapter 11 in April. Versa bought the chains back during the course of the bankruptcy, according to Fortune.
The Eastern Mountain Sports store opened in Towne Center in 2005, and has been at Destiny USA and Carousel Center even longer. A store in Great Northern Mall closed in 1999.
The list of EMS stores slated to close:
- Buckland Hills, CT
- Fairfield, CT
- Wilmington, DE
- Berkshire, MA
- Boston, MA
- Lynnfield, MA
- Northborough, MA
- Annapolis, MD
- Portland, ME
- Nashua, NH
- Salem, NH
- Eatontown, NJ
- Amherst, NY
- Carle Place (Plaza 200), NY
- Fayetteville, NY
- Niskayuna, NY
- Poughkeepsie, NY
- Scarsdale, NY
- Syracuse, NY
- Collegeville, PA
- Exton, PA
- Haverford, PA
- Lancaster, PA
- Middletown, RI
- Burlington, VT
- Manchester, VT
- Rutland, VT
