Business & Tech
Modell's Files For Bankruptcy, Will Close All Stores
The sporting goods retailer has 153 stores in the northeast, including two in Massachusetts and one in New Hampshire.
MEDFORD, MA — Sporting goods retailer Modell's filed for Chapter 11 bankruptcy Wednesday and will close all 153 stores in the northeast. The family-owned chain, founded in 1889 and known for its "Gotta go to Mo's" jingle, carved out a niche by selling local teams' jerseys and equipment for youth leagues.
Modell's has stores in Medford, Newton and Manchester, NH.
The chain is the latest sporting goods company to fold amid the rise of online shopping. Sports Authority, City Sports and Eastern Mountain Sports have all filed for bankruptcy over the past few years.
Find out what's happening in Medfordfor free with the latest updates from Patch.
CEO Mitchell Modell called Wednesday the "worst day of my life," the New York Times reported. The company partnered with financial services firm Tiger Capital Group to liquidate 19 stores and will start closure sales at its remaining stores on Friday.
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