US-based retail sporting goods chain MC Sports has announced plans to close all 66 of its stores across the Midwest.
The company provides shoppers in seven states with discounts on more than $110m worth of sporting goods and apparel brands.
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The going-out-of-business sale is currently underway and will be conducted by a joint venture between Tiger Capital Group and Great American Group.
Tiger Group COO Michael McGrailsaid: "We are witnessing a unique era of consolidation in sporting goods retailing due in part to the rapid growth of ecommerce.
"But stabilisation is an inevitability; chain-wide store-closure events such as this won't continue forever in sporting goods."
MC Sports filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court Western District of Michigan, Grand Rapids.
The company now operates 24 stores in Michigan, 11 in Ohio, seven in Indiana, eight in Illinois, seven in Wisconsin, five in Missouri, and four in Iowa.
MC Sports' large-format stores offer sporting goods and apparel in categories such as hunting, fishing and camping equipment, running shoes, kayaks, treadmills, workout clothes, and team sports equipment.
The company plans to give discounts of up to 60% off on several top brands at the time of liquidation.
Launched as Michigan Clothiers in 1946, the firm changed its name to MC Sports in 1962.
Image: MC Sports at Ann Arbor, Michigan. Photo: courtesy of Dwight Burdette via Wikipedia.
