Eastern Mountain Sports (EMS) and Bob’s Stores (Bob’s) have completed restructuring and recapitalisation.
Eastern Outfitters has been formed as the holding company with more than $400m in annual multi-channel revenue. It will continue the operations of Eastern Mountain Sports (EMS) and Bob’s Stores (Bob’s).
This move comes two months after parent company Vestis Retail Group filed bankruptcy, reported Footwearnews.com.
Easter Outfitters will be headquartered in Meriden, Connecticut, with the senior management team led by CEO Mark Walsh.
Walsh said: “We move forward with a focused strategy and strengthened capital structure that will enable EMS and Bob’s to prosper.
“The management team and I would like to thank our trade and service partners for their unwavering support and for recognising the value of our brands and their confidence in our strategic plan.
“We are excited to begin this new chapter and the growth trajectory we have outlined for our future.”
Eastern Outfitters’ brands will focus on advancing market positions among core demographic groups in the eastern and mid-Atlantic regions.
EMS is a multi-channel retailer of outdoor sports apparel and equipment, with stores in the northeastern and mid-Atlantic states.
Bob’s is a 60-year-old, north-eastern retailer of value-orientated footwear, apparel and workwear.