Michigan Sporting Goods Distributors, which operates 68 sporting goods stores in seven states, has begun store liquidation sales at its MC Sports, MC Sporting Goods, MC Sport Outdoors Centers and Traverse Bay Tackle stores, MLive.com reported today. The liquidation sales coincide with a chapter 11 bankruptcy petition the company filed yesterday in the U.S. Bankruptcy Court for the Western District of West Michigan. MC has been unable to compete with "online resellers, the expansion of competing distribution channels and specialty retailers and changing consumer preferences," according to the petition filed by Bruce Ullery, the company's president, CEO and largest shareholder for the past 28 years. The company lost about $5.4 million on sales of $174.6 million in its latest fiscal year, according to the petition.
