MC Sports announces bankruptcy filing, liquidation sales
GRAND RAPIDS, Mich. – A Grand Rapids-based sporting goods retailer has filed for bankruptcy protection.
MC Sports announced Tuesday they are reorganizing the company under Chapter 11 of the bankruptcy code.
The company has 68 locations in seven states and operates a ski shop at Cannonsburg Ski Area. The announcement did not address any store closings, but says stores will begin liquidation sales at all locations, to “address our immediate liquidity issues.”
In a statement the company says they and others in the sporting goods industry have faced increased competition and the growth of ecommerce, amongst several factors. The filing, the company says, will help address a number of “legacy costs, including long term leases that are no longer in line with current market conditions.” They say they’ve been working to close poor performing locations as lease opportunities became open.
The company was founded 1946 in Grand Rapids. The MC stands for “My Community.”