Over the holiday period, Popular Outdoor Outfitters, a regional chain of outdoor stores based in Ariz., closed its Scottsdale, Tempe, Phoenix and West Valley stores. The chain has been in business since 1952, and just before 9/11 was doing business through 23 locations. That number is now down to eight.
Populars management said that they are now down to a store count that is manageable, and the company will not be closing any more doors.
“That part of reorganization is done,” General Manager Jim Scott told a local paper. “Were at the store count we want to be at, and weve reorganized our staff for eight stores. We know what we can afford.”
The company has a few more challenges ahead. A group of creditors consisting of Deckers Outdoor, VF Corp., and Terramar Sports has filed an involuntary Chapter 7 Bankruptcy claim against Popular in an effort to collect past due bills. As a result of the petition, Popular has announced that it will be filing Chapter 11 Bankruptcy, “as soon as possible.”
Court documents obtained by BOSS state that Popular Outdoor owed Deckers $63,855, VF Corp. $59,641, and Terramar $8,973 for a total debt of $132,469.