Olympia Sports which is a popular brand for athletic footwear and apparel which has outlets all across New England has announced on Friday that it is going to close 76 stores. Among these stores eight of them are situated in Connecticut.
The clothier that is based out of Maine had recently acquired JackRabbit which is a sports retailer. The store is going to continue its operations with the remaining 75 stores under the banner of Olympia Sports. The 76 stores which had been closed were not part of this acquisition.
Closing of a retail chain of a magnitude of this kind does not usually come as good news however there is an announcement of Olympia Sports of Store Closing Sale beginning this Friday, 1st of November. It includes an inventory which is worth $44 million from the biggest brands in apparel and athletic footwear. The discounts are going to be offered across stores on all the women’s, men’s and children’s running shoes, sneakers, boots, basketball shoes, sweatpants, sweatshirts, hoodies, joggers, t-shirts, hats, coats, socks and a lot more as per the press release by the company.
The executives of the company are working with those assisting them with the shuttering of stores SB 360 Capital Partners, who had worked on the endgames for the Charming Charlie, Fred’s Inc. and Charlotte Russe.
As per the Executive Vice President of SB 360, Olympia Sports is the destination store for those who are enthusiastic about sports for many years. That is why the store closing discounts which are being offered would mean a lot of fast paced sales in an environment which is ultra-competitive. The first store of Olympia Sports had been opened in 1975.
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