Olympia Sports, Citing Poor Sales, to Liquidate in Bankruptcy (1)
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. …
