West Lebanon
Meriden, Conn.-based Vestis Retail Group LLC, which operates Eastern Mountain Sports, Bob’s Stores and Sport Chalet, announced on Monday it had begun voluntary reorganization proceedings under Chapter 11 with plans to shutter eight EMS locations, including three in New England, a Bob’s location in South Portland, Maine, and all of its nearly 50 Sport Chalet outlets in California, Arizona and Nevada.
The New England EMS stores slated to close are in Foxborough, Mass.; Warwick, R.I.; and West Hartford, Conn. The other stores to be closed are located in Delaware, New Jersey, Virginia and Pennsylvania.
Vestis also proposed selling EMS and Bob’s to funds advised by the Philadelphia-based private equity firm Versa Capital Management LLC, which would acquire substantially all of the remaining assets of the company.
If the courts approve the bankruptcy plan, the company would emerge with 35 Bob’s Stores and 53 Eastern Mountain Sports locations.
The manager of the West Lebanon EMS store referred questions to corporate headquarters. A representative there said, “As far as I know, (the West Lebanon) store is not on the list” of outlets to be closed.
Vestis Retail Group is providing updated information about the closings on its website, www.vestisrestructuring.com.
In its bankruptcy announcement, Vestis said the move was made in the face of increased competition from big-box stores and online retailers, as well as an unseasonably warm winter that made for poor sales of cold weather clothing.
Eastern Mountain Sports sells outdoor gear. Bob’s is a discount footwear and clothing store.
The Upper Valley chapter of SCORE is offering a workshop on Internet Marketing Fundamentals on Thursday, from 6-9 p.m., at 20 W. Park St., Lebanon, Suite 316, in the Citizens Bank Building. This workshop covers selling and advertising products and services on the internet. Gary Horsman and Vasilios Georgitsis will co-present the workshop. Horsman is in charge of marketing at A Global Reach in Woodstock. Georgitsis is the president of GlobeInt.com Inc. and co-owner of NHVT Computer Services LLC. Cost is $40, two for $60. Veterans free. To reserve a spot, visit www.uppervalley.score.org, email score@valley.net or call 603-448-3491.
The annual spring dinner of the Women’s Network of the Upper Valley is scheduled for May 3, from 5:15-8:30 p.m., at the Hotel Coolidge in White River Junction. Meagan Gallagher, CEO of Planned Parenthood of Northern New England and the 2016 recipient of the Deborah Aliber Award for Community Service, will be the speaker. Cost is $30 for members, $35 for non-members. RSVP by calling 603-643-6810 or emailing cyndy.bittinger@valley.net.
The 9th annual Upper Valley Energy Committee Roundtable is slated for May 3, from 5-8 p.m., in the Porter Community Room at the Montshire Museum of Science in Norwich. The free event, which includes a buffet dinner, will feature a panel on local energy policies, including solar siting, permit review and municipal projects. Register at http://bit.ly/1rpV75P.
Items of interest to the local business community are published in the Business & Money section of the Sunday Valley News. Submissions may be sent by e-mail to biznotes@vnews.com, or mailed to: Business Notes, c/o Sunday Valley News, P.O. Box 877, White River Junction, Vt. 05001. All items are subject to editing.
