City Sports’ Buyer Will Close All Stores
City Sports, the Boston-based sporting goods retailer, has been purchased by a company who plans to shutter the chain’s remaining locations and sell off its assets, The Boston Globe reported. The company, which opened its first store in Boston in 1983, filed for bankruptcy in October and closed eight of its 26 stores, hoping to sell the rest to a company that could continue to operate them. Hilco Merchant Resources LLC purchased the remaining locations in an auction and will hold going-out-of-business sales starting Friday, according to the Globe. Hilco is known for buying out troubled companies and profiting by selling remaining merchandise.