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MC Sports Closing Nationwide

February 17, 2017

MCSports

The MC Sports chain has filed Chapter 11 bankruptcy, and liquidation of assets has begun. We're sorry to see this as MC Sports, at least at their Champaign, IL store, brought firearms sales into the local mall.  Their knowledgeable gun counter staff was way above average and prices were very good.  They also brought in an impressive stock of ammunition and accessories.

MC

Check them out.  There will inevitably be some outstanding gun buying opportunities!

 

MC Sports files bankruptcy, company to begin liquidating assets

 

(WAND TV)  – Sporting goods retailer MC Sports filed Chapter 11 bankruptcy, and a statement released Tuesday says the retailer will begin liquidating its assets, including all 68 of its stores.

The Grand Rapids, Michigan-based chain released a statement on February 14, explaining it has initiated voluntary reorganization proceedings under Chapter 11 of the U.S. Code in Grand Rapids, MI, Court Case No. 17-00612.

According to the release, despite efforts by chain associates, vendors, landlords and outside professionals to restructure the company’s balance sheet and operating performance, MC Sports was unable to reach an agreement on a “viable out of court proposal.”

MC Sports President and CEO Bruce Ullery explains in the statement, “The only alternative to address our immediate liquidity issues is to commence liquidation sales at all stores, while concurrently expediting our pursuit of alternative financing and going-concern sale options under the protections of Chapter 11. To lead our exploration of alternative options, the company recently retained the independent advisory firm, Stout Risius Ross Advisors, LLC.”