Eastern Outfitters LLC, the parent of discount chain Bob's Stores and outdoor retailer Eastern Mountain Sports, filed for bankruptcy protection on Sunday, the latest U.S. retailer to do so amid increased competitive pressure facing the sector, Reuters reported today. British sportswear retailer Sports Direct International Plc. has engaged in extensive talks with Eastern Outfitters to become a stalking-horse bidder in a bankruptcy auction, the chapter 11 filing showed. Eastern Outfitters listed assets and liabilities in the range of $100 million to $500 million, according to court documents filed in the U.S. Bankruptcy Court for the District of Delaware. Eastern Outfitters is owned by private equity firm Versa Capital Management LLC, which acquired Bob's and Eastern Mountain Sports through the bankruptcy last year of Vestis Retail Group LLC, the previous owner of the store chains. Versa said at the time that Eastern Outfitters had more than $400 million in annual revenue.
