Eastern Mountain Sports Said to Be Headed for Bankruptcy Court
Vestis Retail Group, which operates the Eastern Mountain Sports, Bob’s Stores and Sport Chalet chains, is preparing a bankruptcy filing, extending a run of retail-industry defaults, according to a person familiar with the matter. The company, owned by private equity firm Versa Capital Management LLC, could file as soon as next week, said the person, who asked not to be identified because the process isn’t public. The default would follow Sports Authority Inc.’s trip to bankruptcy court in March, underscoring the challenges of the sporting-goods industry. Other well-known retailers, including American Apparel Inc., Quiksilver Inc. and Hancock Fabrics Inc., also have filed for Chapter 11 during the past year. And Pacific Sunwear of California Inc. may be headed for bankruptcy as soon as next week, people familiar with the matter have said.