Major outdoor retailer shuts 91 stores as Chapter 11 bankruptcy proceedings begin

One of the prominent players in the US outdoor goods market has filed for Chapter 11 bankruptcy and announced the closure of 91 retail locations across the country. The company was unable to withstand the combination of high interest rates, pressure from online competitors and softening consumer spending. Shuttering this many stores will result in widespread job cuts and inventory liquidation sales. For investors, this is yet another confirmation of the structural crisis facing traditional brick-and-mortar retail in the US. At the same time, it creates opportunities for e-commerce players and specialized online platforms that continue to capture shoppers.