With all of its retail outlets now closed, Grand Rapids-based sporting goods retailer MC Sports appears to have entered a new chapter in its three-month old federal bankruptcy.
The retail real estate sector could be on the verge of a major upheaval, beyond the near steady stream of headlines about brick-and-mortar store closures and bankruptcies in recent weeks.
Steven Wybo doesn’t see much of a happy ending for the vast majority of brick-and-mortar retail stores. The senior managing partner in the Birmingham office of international turnaround and restructuring firm Conway MacKenzie Inc. says the impending demise of West Michigan-based retailers like MC Sports and Family Christian Stores is indicative of the trends impacting larger mall anchors. In particular, they bear too much fixed cost and have to contend with ever-changing consumer trends. Wybo spoke with MiBiz regarding recent closures and the very limited number of options he sees for retail.
Sporting goods retailer MC Sports will soon be offering up its leases for bid.
GRAND RAPIDS — Two stalwart West Michigan retailers are closing up shop, opening up valuable real estate at a time when space is at a premium in the region.
The parent company of MC Sports says it plans to wind down operations at its corporate headquarters and distribution center starting the end of March.
MC Sports, a Grand Rapids-based sporting goods retailer operating in seven Midwest states, filed for Chapter 11 bankruptcy today in the U.S. Bankruptcy Court for the Western District of Michigan.