MC Sports is closing all 66 of its stores across the Midwest. A joint venture between Tiger Capital Group and Great American Group will conduct the going-out-of-business sale, which is now underway.
Founded in Grand Rapids, MI in 1946, MC Sports was one of the few remaining privately held sporting goods chains in the country. It filed for Chapter 11 bankruptcy protection on February 14, 2017 in the U.S. Bankruptcy Court Western District of Michigan, Grand Rapids (Case No. 17-00612-jtg).
As reported, Stout Risius Ross Advisors (SRRA) still has been retained to explore the potential sale of all or a portion of MC Sports business as a “going concern,” including pursuing potential investors or acquirers.
The company currently operates 24 stores in Michigan; 11 in Ohio; seven in Indiana; eight in Illinois; seven in Wisconsin; five in Missouri; and four in Iowa.
“We are witnessing a unique era of consolidation in sporting goods retailing due in part to the rapid growth of ecommerce,” said Michael McGrail, COO, Tiger Group. “But stabilization is an inevitability; chain-wide store-closure events such as this won’t continue forever in sporting goods.”
Photo courtesy MC Sports