When Modell’s Sporting Goods filed for Chapter 11 Bankruptcy in March, it was supposed to be a standard liquidation: the New York-based retailer would conduct going-out-of-business sales at its 134 locations and then close the stores. The proceeds would go to creditors. Just days later, many US states went into lockdown. Modell’s stores closed, making going-out-of-business sales impossible. On March 27, a New Jersey bankruptcy judge granted Modell’s a month-long reprieve, which was later extended to the end of May.
