A bankruptcy judge has approved the closure of dozens of Eastern Mountain Sports and Bob’s Stores, including the EMS store on Marginal Way.
Eastern Outfitters, the parent company of Eastern Mountain Sports and Bob’s Stores, had asked a bankruptcy court in Delaware for permission to close 48 of its 86 stores as part of a plan for UK retailer Sports Direct International Ltd. to acquire the company.
On Thursday, Judge Laurie Selber Silverstein signed an order allowing the closures. An agreement between Eastern Outfitters and Hillco Resources LLC and Gordon Bros. Retail Partners to liquidate the stores can now commence.
Questions about the fate of staff at the Portland store and information about liquidating inventory were referred to the company’s corporate headquarters in Connecticut and were unanswered as of Friday afternoon. The judge’s order, however, says certain employees could be paid store closing bonuses.
Eastern Outfitters filed for Chapter 11 bankruptcy in Delaware on Feb. 5, citing more than $7 million in unsecured claims by creditors.
Sports Direct has submitted a bid of $29.5 million to purchase the company’s assets.
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