Princeton Ski Shop, which filed for bankruptcy last November, is liquidating. Going-out-of-business sales are starting Saturday, February 23, at its four superstores in the NY/NJ metropolitan area.
Princeton Ski Shop opened its first skate shop in downtown Manhattan in 1916. Since then, the company has grown to four superstores located in New York City; Roslyn, Long Island; Elmsford, NY; and Clifton, NJ, as well as a specialty skate and snowboard shop, Out of Bounds, in Scotch Plains, NJ.
According to court papers filed in Newark, NJ, the retailer had been hurt by the poor winter season in the northeast in 2006 that had a “terrible lingering effect” on Princeton's liquidity, leaving it overstocked with inventory and with insufficient cash by early 2007. The company also blamed increased competition from Dick's Sporting Goods, The Sports Authority, Macy's and Internet sites.
“We'd like to thank our loyal customers for their many years of patronage,” said Richard Carp, VP, Princeton Ski Shop, Inc, in a statement. “As a final 'thank you' we're offering our customers incredible, never-before-seen deals on everything in our stores.”
Boston's Gordon Bros. is handling the liquidation sales.