- American City Business Journals•4 months ago
Vestis Retail Group LLC, the parent company of Eastern Mountain Sports, Bob's Stores, and Sport Chalet, today announced that it has filed for Chapter 11 bankruptcy protection, and that it has devised a “long-term success” plan that involves selling two of the three retail chains. As part of that filing, the Meriden, Connecticut-based company proposed the sale of EMS and Bob's to Philadelphia-based private equity firm Versa Capital Management LLC, whose affiliates already own Vestis,would acquire substantially all of the company’s remaining assets. Separately, the company plans to wind down the Sport Chalet chain, which operates 47 stores in California, Arizona, mostly in the Los Angeles and Phoenix areas, plus two stores near Las Vegas.
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