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Details on Industry Insight.
Joe's Sports & Outdoors, a sporting goods store with 31 outlets in Washington, Oregon and Idaho, has declared Chapter 11 bankruptcy, according to several news reports from the Pacific Northwest.
The chain, which carries a full range of sporting goods from team jerseys to kayaks, is also big seller of snow and skate apparel and hardgoods.
The stores started as an Army surplus outlet called G.I. Joes. But they evolved into sporting goods stores and were gearing up to compete against Dick's, according to a report in the Portland Oregonian.
Joe's owes its creditors $12.8 million.
The brands it features on its website are big outdoor names like North Face, Columbia, Marmot and Spyder.
Company officials said they plan to keep their stores open and pay their employees while they continue their search for new capital or a buyer.