A Delaware bankruptcy judge has given Eastern Mountain Sports’ parent company approval to close its Portland store on Marginal Way, in addition to 47 others.
The judge on Thursday approved the request from Eastern Outfitters, which owns Eastern Mountain Sports and Bob’s Stores. The closures are part of the Chapter 11 bankruptcy plan for the UK-based Sports Direct International Ltd. to buy the remaining assets.
The closure will mean an 8,000-square-foot vacancy next to Trader Joe’s. According to the court order issued Thursday, a joint venture of Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC will handle liquidation of the stores.
That specifically allows those consultants to hold sales including, but not limited to, those advertised as “store closing,” “sale on everything” or “everything must go.”
(Fun fact: Gordon Brothers’ industrial and commercial division led the joint venture to liquidate Lincoln Paper and Tissue mill.)
It was not clear from the filing how soon the stores plan to hold those sales.
For the current employees, the ruling says that EMS’ parent company will be able to pay “store closing bonuses” to store-level and certain field employees that stay on through the store closing sales.