City Sports to Close All Store Locations, All Inventory to be Liquidated

BOSTON, Nov. 5, 2015 /PRNewswire/ -- Gordon Brothers Group and Hilco Merchant Resources announced today that they will begin going-out-of-business sales at all City Sports retail locations beginning Friday, November 6^th.  The joint venture partners were awarded the store closing process by the U.S. bankruptcy court on November 5th.  Sales will offer discounts of up to 30% on all shoes, clothing, athletic gear and accessories including popular brands such as Under Armour, Nike, Marmot, Patagonia, The North Face, UGG Australia, ASICS and Brooks. Store fixtures, furniture and equipment will also be available for sale.

City Sports currently operates 18 retail stores across the East Coast, with locations in Maryland, Massachusetts, New York, Pennsylvania, Virginia and Washington, D.C. For a complete list of store locations visit www.citysports.com.

Throughout its 30 years in specialty athletic retail, City Sports has offered a comprehensive assortment of performance footwear, equipment, and apparel from leading athletic and niche brands, as well as its own "CS by City Sports" line, all focused on outfitting athletes for running, training, cycling, swimming, tennis, yoga, team sports and more.

"On behalf of all of us at City Sports, I would like to thank our loyal customers and talented and dedicated employees for a rewarding 30 years," said Marty Hanaka, CEO, City Sports. "Although we are closing our doors, we hope our shoppers will use this opportunity to purchase items they love and continue to enjoy the active lifestyle we have always promoted at City Sports."

A spokesperson for the joint venture said, "This is a tremendous opportunity for athletes and all active lifestyle enthusiasts to take advantage of truly compelling discounts on an incredible assortment of merchandise.  We encourage consumers to shop early to take advantage of these rare savings on their favorite brands of athletic-wear and accessories."

About Gordon Brothers Group

Founded in 1903, Gordon Brothers Group (www.gordonbrothers.com) is a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors. Gordon Brothers Group maximizes value for both healthy and distressed companies by purchasing or selling all categories of assets, mitigating leases, appraising assets and operating businesses for extended periods.  Gordon Brothers Group conducts over $50 billion worth of transactions and appraisals annually.  As of November 2014, debt financing is provided by Gordon Brothers Finance Company (www.gbfinco.com).  

About Hilco Merchant Resources, LLC

Hilco Merchant Resources (www.hilcomerchantresources.com) provides a wide range of analytical, advisory, asset monetization, and capital investment services to help define and execute a retailer's strategic initiatives.  Hilco Merchant Resources' activities fall into several principal categories including acquisitions; disposition of underperforming stores; retail company or division wind downs; event sales to convert unwanted assets into working capital; facilitation of mergers and acquisitions; interim company, division or store management teams; loss prevention; and, the monetization of furniture, fixtures and equipment. Additionally, among recent acquisitions by HMR is the popular online retail and daily deal e-commerce company, Deal Genius, LLC (www.dealgenius.com). 

Hilco Merchant Resources is part of Northbrook, Illinois based Hilco Global, one of the world's leading authorities on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace.  Hilco Global operates twenty specialized business units offering services that include asset appraisal, retail and industrial inventory acquisition and disposition, real estate repositioning and renegotiation, strategic advisory and operational consulting and strategic capital equity investments.  For more information please visit: (www.hilcoglobal.com).

SOURCE Gordon Brothers Group

Related Links

http://www.gordonbrothers.com

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