U.K.-based Mountain Warehouse puts in $5M bid for bankrupt Eastern Mountain Sports
The Eastern Mountain Sports brand may live to see another day.
Mountain Warehouse has offered a $5 million stalking horse bid for the intellectual property of the Northeast regional outdoor retailer, whose parent company GoDigital Media Group filed for bankruptcy in June. The bankruptcy auction ends by Aug. 30.
Mountain Warehouse, which is based in London and has 350 stores around the globe, is looking to continue operating seven of Eastern Mountain’s approximate 20-plus stores under the EMS name. The remaining EMS locations are set to close after holding liquidation sales.
"This prospect with a company that shares our values and commitment to the outdoor community marks an exciting opportunity for Eastern Mountain Sports,” said Dave Barton, president of EMS. “EMS will continue to provide our customers with the best outdoor gear and experience while supporting our dedicated employees and local communities."
Eastern Mountain Sports said that its locations will be optimized to enhance efficiency and maintain a robust brick-and-mortar presence, so that customers can continue to experience products firsthand and receive expert advice from knowledgeable staff. EMS will also remain committed to engaging with local communities to offer a diverse selection of products, including a variety of third-party brands, creating a unique shopping experience tailored to meet the needs of each community.
As part of the Chapter 11 restructuring petition, Hilco Merchant Resources in a joint venture with Gordon Brothers will manage liquidation sales at select EMS locations and inventory blowout events at other EMS locations. The sale events will offer significantly reduced prices on a wide range of outdoor gear from hiking and climbing to biking and kayaking plus all the apparel needed for these adventures.
Founded in 1997, Mountain Warehouse carries a curated selection of products from third-party brands. But most of its products are designed and produced in-house, and exclusive to it. The company operates stores in the U.K., Ireland, Germany, Poland, Austria, Netherlands, New Zealand, Canada and the U.S.
