SB360 CAPITAL PARTNERS TO MAKE BUY-OUT SALES IN FINAL GROUP OF 34 OLYMPIA SPORTS STORES

0

BOSTON, September 15, 2022 /PRNewswire/ — Olympia Sports, Antero Brands athletic footwear and apparel chain, has selected SB360 Capital Partners LLC (www.sb360.com), as its exclusive consultant to drive “Going Out of Business” sales across its remaining 34 stores. Earlier this year, SB360 launched a series of strategic “Store Closure” or “Total Inventory Blast” events at select Olympia locations, with the most recent group closing in August.

SB360 started working with Olympia Sports in 2019 when the original company was acquired and 76 of the company’s 150 stores were excluded from the acquisition. SB360 has been selected to operate Store Closing sales in these locations.

Olympia Sports Was founded in South Portland, Maine in 1975. For nearly five decades, Olympia sold a premium athletic brand assortment in locations throughout the Northeast, Mid-Atlantic, and Mid-West. The remaining stores are part of the Antero Brands retail group.

The ‘Going Out of Business’ sale is already underway at all 34 stores and includes inventory from the biggest footwear and activewear brands. Discounts of up to 80% storewide are offered on all sneakers, running shoes, basketball shoes, boots, joggers, sweatpants, hoodies, sweatshirts, sleeve t-shirts long and short-sleeved, coats, socks, hats for men, women and children. , and much more. The stores will close at the end of September.

Aaron Millerpresident of SB360, said “Olympia Sports is a destination store in many of the communities they serve. With their vast selection and superior service, Olympia’s appeal is vast and spans generations. Their reputation combined with their popularity in every market resulted in a very quick sale. While supplies last, Going Out of Business discounts give Olympia Sport’ shoppers the opportunity to get the biggest savings these stores have ever offered. »

“Olympia Sports stores are hometown favorites and customers have responded well to the sale,” said Ziggy Schaffer, COO of SB360. “Stores have received the last of their order shipments, and the merchandise is coming out as fast as it comes in. Customers are sad to see these Olympia Sports stores are closing, but they are enjoying great products at great prices. »

About SB360 Capital Partners – SB360 Capital Partners (www.sb360.com), a subsidiary of Schottenstein, helps companies manage change, restructure assets and turn around declining profitability. SB360 makes equity investments to inject capital into growth opportunities, fund turnarounds, and provide liquidity to transitioning businesses. SB360 acquires assets of all types, including inventory, fixed assets, intellectual property, real estate, and entire business units. The company’s asset disposal services range from providing guaranteed recovery of asset value to acting as a liquidation consultant. Additionally, SB360 has entities engaged in real estate consulting and commercial real estate investment. A lending affiliate, Second Avenue Capital Partners, provides asset-based lending to middle-market companies. SB360 executives hold significant business interests in national retail and wholesale operations; internationally recognized consumer brands; commercial, residential and industrial real estate properties; and financial services operations.

About Olympia Sports Olympia Sports was established in 1975 with the opening of its first store in the Maine Mall at South Portland, Maine. Olympia Sports offers an assortment of premium sports specialty brands, superior customer service and convenient locations run by local residents. Olympia Sports is a fixture in the communities it has served for 47 years. www.olympiasports.net

SOURCESB360 Capital Partners LLC

Share.

Comments are closed.