Eastern Outfitters has completed a Chapter 11 Bankruptcy §363 sale to Sports Direct
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Eastern Outfitters LLC (“Eastern Outfitters” or the “Company”) has successfully restructured and sold Eastern Mountain Sports (“EMS”) and Bob’s Stores (“Bob’s”) pursuant to the section 363 of the bankruptcy code to Sports Direct International plc (“Sports Direct”).
EMS is a leading multi-channel retailer of outdoor sports apparel and equipment with stores in the Northeastern and Mid-Atlantic states. Bob’s is a value-oriented retailer of footwear, apparel and work wear in the Northeastern states. Prior to filing for a bankruptcy, EMS and Bob’s operated over 85 stores.
Lincoln acted as exclusive investment banker to Eastern Outfitters, working closely with the Company’s management team and stakeholders throughout the Chapter 11 Bankruptcy case and §363 sale process. This involved expeditiously managing the comprehensive strategic alternatives process that ultimately resulted in the sale to Sports Direct. Lincoln also managed a broad sale process and assisted in negotiating the debtor-in-possession financing.
Alex Stevenson, Managing Director at Lincoln, commented, “We are glad to have helped preserve the EMS and Bob’s brands and successfully close the transaction. The Company is now well positioned for long-term growth under the ownership of Sports Direct. We also thank professionals at Bracewell, Alix Partners and Meru for working collaboratively to achieve a great outcome.”
About Eastern Outfitters
Meriden, Connecticut-based Eastern Outfitters is a fully-integrated retailer comprised of Bob’s Stores and Eastern Mountain Sports. The Company provides a unique portfolio of apparel, footwear and sporting goods and operates primarily in the Northeastern United States.
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