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Modells heads into Chapter 11

Photo by istock.com

March 13, 2020

Modell's Sporting Goods, founded in 1889, has filed for bankruptcy protection due to millions of dollars of debt and poor retail sales.

It is closing all of its stores, currently the number stands at 141, and the company CEO and president said the announcement made for his worst day in his life, according to a New York Times report.