Ski Market started going out of business sales on Saturday. In a bankruptcy auction in Boston held Feb. 5, Gordon Brothers Retail
Partners LLC won the right to liquidate Ski Market’s remaining seven
stores.
The northeast retailer filed for Chapter 11 bankruptcy protection on Dec. 29, 2009. Under Gordon Brothers plan, Ski Market is guaranteed payment of 75.25% of merchandise worth at least $1.8 million, would run no later than March 31.
The company was founded in 1958 as St. Moritz Sports and changed its name to Ski Market in 1971. At its peak, the chain, owned by the Ferguson family its entire existence, had more than 20 locations in the Northeast with sales of more than $40 million. Its remaining stores are located in Boston, Framingham, Pembroke, Woburn, Wellesley, MA, as well as Avon, CT and Warwick, RI.
