Sporting goods retailer Modell’s to close 24 stores: CEO
Modell’s closing 24 stores
Modell’s CEO Mitchell Modell discusses the history of his company and what it is doing to stay alive.
Sports retailer Modell’s will be closing 24 stores and is considering offering a minority stake in the company as it fights to stay alive, CEO Mitchell Modell said Friday.
Continue Reading Below
During an interview with FOX Business’ Maria Bartiromo on "Mornings with Maria," Modell said he will do whatever it takes to keep his 130-year-old family business in operation.
UNDER ARMOUR SUFFERS ANOTHER BLOW IN HEATED RETAIL CONTEST
In March 2019, the Wall Street Journal published an article detailing the company’s financial difficulties, which began a chain reaction of vendors stopping shipment of products to Modell’s, insurance companies cutting it off and their credit rating being downgraded, according to Modell.