Retail

Another Another One Bites The Dust: EMS Is Flirting With Bankruptcy

The culling of the field in retail continues apace, now with the Vestis Retail group facing bankruptcy.

Vestis operates Eastern Mountain Sport, Bob’s Store and Sport Chalet. According to reports from Bloomberg, the group is prepping a bankruptcy filing and could make it official as early as next week, according to sources familiar with the matter.

The fall of Vestis follows a March default by Sports Authority Inc, as well as retail bankruptcies filed by American Apparel, Quicksilver and Hancock Fabrics. Pacific Sunwear may soon be joining this particularly dubious list.

Versa Capital Management LLC, Vestis’ parent, specializes in distressed firm turnarounds. Bob’s was purchased from TJX in 2008, EMS in 2012 and Sport Chalet in 2014 to build Vestis into a portfolio of outdoor and athletically oriented retailers.
Philadelphia-based Versa declined to comment to Bloomberg.
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