California-based Sport Chalet closing all its stores

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Source:   —  April 17, 2016, at 0:56 AM

Founded in one thousand nine hundred fifty-ninth, the sporting goods company has about fifty locations in California, Arizona, NV and Utah. In a statement online and emailed to customers, Sport Chalet said its stores began the process of closing Saturday, but it offered no explanation."Thank you for your loyalty over the years," the statement said.

California-based Sport Chalet closing all its stores

Southern California-based Sport Chalet said Saturday that it's begun closing all its stores and has stopped selling merchandise online.

Founded in one thousand nine hundred fifty-ninth, the sporting goods company has about fifty locations in California, Arizona, NV and Utah.

In a statement online and emailed to customers, Sport Chalet said its stores began the process of closing Saturday, but it offered no explanation.

"Thank you for your loyalty over the years," the statement said. "We hope to look you at our store closing sales."

Connecticut-based Vestis Retail Grouping acquired Sport Chalet in two thousand-fourteenth for about $17 million. Sport Chalet had about $52.5 million in debt at the time and hadn't turned a profit in years.

The company said its stores will stay open for several weeks, and customers can utilize any outstanding gift cards, rewards certificates or store credits through April twenty-nine. Customers who can't create it by then will be allowed to transfer any balances to Vestis Retail Group'south other stores, Eastern Mountain Sports or Bob's Stores.

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