MC Sports Planning Liquidation Sales After Filing For Bankruptcy
The Michigan-based sporting good store announced earlier this week that it is planning to file for Chapter 11 bankruptcy protection.
MC Sports will be having liquidation sales at some (not all of the 68 retail locations) as the sports retail stores determines the next step in surviving and keeping business going.
“After a valiant and concerted effort by MC Sports’ associates, vendors, landlords and outside professionals to restructure the company’s balance sheet and operating performance, the company was unable to reach an agreement on a viable out of court proposal,” – President of MC Sports Bruce Ullery
On Tuesday Ullery announced that MC Sports owed approximately $27.6 million in trade and other unsecured obligations to vendors, suppliers and other ordinary course contractors.