Parent of discount chain and sports brand files Chapter 11 — again

Eastern Outfitters, the parent company of Eastern Mountain Sports and Bob’s Stores, has filed for Chapter 11 bankruptcy protection.



The company listed assets and liabilities in the range of $100 million to $500 million in its filing



British sporting goods retailer Sports Direct International has engaged in extensive talks with Eastern Outfitters to become a stalking-horse bidder in a bankruptcy auction, Reuters reported.



Eastern Outfitters was formed in 2016 when Vestis Retail, parent company of Sport Chalet, Eastern Mountain Sports, and Bob’s Stores, filed Chapter 11 and went on to close Sport Chalet. (Versa Capital Management had formed Vestis in 2012 when it acquired the three sporting goods retailers and put them under the same corporate banner.) After the bankruptcy last year, Versa put Eastern Mountain and Bob’s under its new Eastern Outfitters subsidiary.



Versa Capital is also the private equity backer of The Wet Seal, which filed Chapter 11 last week and plans to close all its stores.



Eastern Mountain Sports has approximately 40 stores, and Bob’s Stores has 34 locations. Both retailers operate primarily in the Northeastern U.S.