Business & Tech
Modell's To Close At Eatontown's Monmouth Mall
Modell's Sporting Goods stores will begin liquidation sales now that the company has filed for bankruptcy.
EATONTOWN, NJ — All Modell's Sporting Good's stores will close, including the one inside Monmouth Mall. Modell's filed for Chapter 11 bankruptcy Wednesday, prompting liquidation sales in all stores.
Chief Executive Officer Mitchell Modell cited challenges to the retail environment as the reason to shutter stores.
"While we achieved some success (in restructuring the business)," Modell said, "in partnership with our landlords and vendors, it was not enough to avoid a bankruptcy filing amid an extremely challenging environment for retailers."
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All remaining stores that haven't begun liquidation will begin the process Friday morning. The business will continue online sales.
The Chapter 11 bankruptcy was filed in New Jersey, where Modell's has more than 30 stores. They have more than 140 locations nationwide.
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