Eastern Mountain Sports’ Parent Is Latest Retailer To File For Bankruptcy

by MR Magazine Staff

Eastern Outfitters, the parent of discount chain Bob’s Stores and outdoor retailer Eastern Mountain Sports, filed for bankruptcy protection on Sunday, the latest U.S. retailer to do so amid increased competitive pressure facing the sector. British sportswear retailer Sports Direct International has engaged in extensive talks with Eastern Outfitters to become a stalking-horse bidder in a bankruptcy auction, the Chapter 11 filing showed. Sports Direct could not be immediately reached for comment outside regular business hours. Eastern Outfitters listed assets and liabilities in the range of $100 million to $500 million, according to court documents filed in the U.S. Bankruptcy Court for the District of Delaware. Read more at Fortune.