GRAND RAPIDS, Mich. (WOOD) — After 70 years of business in Grand Rapids, MC Sports is closing all of its stores.
That’s according to Tiger Group, which is one of the firms managing the company’s final liquidation sale.
The announcement comes just days after the company filed for Chapter 11 bankruptcy protection, after failing to reach an out-of-court settlement with its creditors.
Tiger Group says MC Sports is closing all 66 of its stores across the Midwest, including 24 retail locations in Michigan. The going-out-of-business sale is already underway.
MC Sports opened in Grand Rapids in 1946, selling World War II surplus in addition to fishing, hunting and outdoor sporting goods.
But the advent of online shopping and the arrival of megastores like Dick’s and Cabela’s took its toll on the company, as well as weak holiday sales last year.
MC Sports currently has more than $170 million in annual revenues and employs more than 1,300 people. But in 2016, the company operated with a $5.4 million trade debt, according to its bankruptcy filing