GRAND RAPIDS, Mich.,
Feb. 17, 2017 /PRNewswire/ -- MC
Sports is closing all 66 of its stores across the Midwest,
providing shoppers in seven states with significant discounts on
over $110 million of top-name
sporting goods and apparel brands. A joint venture between Tiger
Capital Group and Great American Group will conduct the
going-out-of-business sale, which is now underway.
Founded in Grand Rapids in
1946, MC Sports was one of the few remaining privately held
sporting goods chains in the country. It filed for Chapter 11
bankruptcy protection on February 14,
2017 in the U.S. Bankruptcy Court Western District of
Michigan, Grand Rapids (Case No. 17-00612-jtg).
The company currently operates 24 stores in Michigan; 11 in Ohio; seven in Indiana; eight in Illinois; seven in Wisconsin; five in Missouri, and four in Iowa. To see a list of locations, please click
here.
MC Sports' large-format stores brim with sporting goods and
apparel in virtually every category—from hunting, fishing and
camping equipment, to running shoes, kayaks, treadmills, workout
clothes, team sports equipment, and much more. During the
liquidation event, shoppers will find discounts of up to 60 percent
off the original prices on dozens of top brands (with some
exceptions, most notably firearms).
Available brands include Nike, Under Armour, Adidas, Century,
Everlast, Fitbit, Merrell, Mizuno, K-Swiss, Asics, Cleveland, Calloway, Adams Golf, Dunlop,
Titleist, Wilson, Coleman, CamelBak, Shakespeare, Daiwa, Igloo,
Diamond, Easton and Louisville Slugger, to name a
few.
For bargain-conscious shoppers in the Midwest, the sale
represents a rare value opportunity, said Michael McGrail, COO of Tiger Group, which
provides asset valuation, advisory and disposition services to a
broad range of retail, wholesale, and industrial clients. "We are
witnessing a unique era of consolidation in sporting goods
retailing due in part to the rapid growth of ecommerce," he said.
"But stabilization is an inevitability; chain-wide store-closure
events such as this won't continue forever in sporting goods."
"Across the Midwest, MC Sports became a fabric of the
community," stated Scott K.
Carpenter, President of GA Retail Solutions, a leading
provider of asset disposition and auction solutions, and a
subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY). For example,
local sports teams frequently received discounts from the chain. MC
Sports also prided itself on its diverse offering of top brands,
Carpenter noted. "For a region in which sports and outdoor
activities are incredibly popular," he said, "this is a truly
compelling event."
Offering everything from men's clothing to military surplus, the
company was launched as Michigan Clothiers in 1946 but changed its
name to MC Sports in 1962 to reflect a growing focus on sports
equipment, footwear, and apparel. Over the years, MC Sports' growth
trajectory included snapping up competing regional chains such as
Morrie Mages' Sports, as well as
Browns Sporting Goods, both in Illinois.
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SOURCE Tiger Group and Great American Group