Olympia Sports, Citing Poor Sales, to Liquidate in Bankruptcy (1)
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Sporting goods retailer Olympia Sports Acquisitions LLC filed for Chapter 11 protection with plans to liquidate, citing poor sales, online competition, and residual problems from the Covid-19 pandemic.
The Auburn, Maine-based company, which filed for Chapter 11 alongside its owner RSG Acquisitions LLC and several of its non-operating affiliates, listed estimated liabilities of up to $50 million and assets of up to $10 million in its Sunday petition to the Delaware bankruptcy court.
Olympia is among several sports brick-and-mortar retailers that have struggled in recent years, including Modell’s Sporting Goods Inc., and Sports Authority Inc., which liquidated in 2016. …
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