By Thomas J. Ryan
Adidas and Nike both landed at the top of the Top 20 unsecured creditors list in the bankruptcy case of Modell’s Sporting Goods, each owed nearly $9 million. Under Armour was third with an unsecured claim of $3.8 million.
The Top 20 list included many other leaders in the sporting goods space, particularly in the team sports area. Others left with unpaid bills include Champion, Rawlings, New Balance, Eastman Footwear, Implus Footcare, McDavid, ’47, Wilson, and Easton Sports.
The list also includes Jacques Moret, which owns the licensing rights for women’s apparel under the Everlast name; and JR286, a maker of sports equipment and accessories that has licensing agreements with Nike, Dakine and Walls. Two lesser-known apparel companies based in New York City, Ezrasons and Fashion Options, as well as Capelli of New York, another New York City-based maker of footwear and accessories, also landed on the list.
Outside trade, the list includes Modell’s advertising firm, US International Media, and two landlords, 3rd & 87th Streets and One Penn Plaza.
The Top 20 unsecured creditors list in the bankruptcy case includes:
- Adidas U.S.A. ($8.97 million)
- Nike ($8.77 million)
- Under Armour ($3.76 million)
- US International Media ($1.79 million)
- Champion/HanesBrands ($1.72 million)
- Rawlings Group ($1.29 million)
- New Balance ($755,628)
- Eastman Footwear Group ($739,804)
- Implus Footcare ($704,656)
- McDavid Knee Guard ($693,628)
- Twin Enterprises/’47 ($692,604)
- Wilson Sporting Goods ($567,603)
- Ezrasons ($559,740)
- Fashion Options ($556,551)
- Eni Jr286 ($537,319)
- 3rd & 87th ($477,370)
- Easton Sports ($476,719)
- Jacques Moret/Everlast Division ($462,668)
- Capelli of New York ($460,288)
- One Penn Plaza ($442,058)
Photo courtesy Modell’s Sporting Goods