Modell's Sporting Goods, Inc.

Modell’s is in post-confirmation liquidation trust administration: the operating retailer has already been liquidated, the plan has been effective since December 1, 2020, and the current docket is focused on claims reconciliation, claim trading, and trust wind-down milestones. The case began on March 11, 2020, when Modell’s and affiliates filed chapter 11 after a failed out-of-court restructuring and sale effort; the debtors entered bankruptcy with a 134-store retail footprint, roughly $220 million in assets against $288 million in liabilities, more than $100 million of unsecured obligations, and secured debt that included about $29.6 million under a JPMorgan revolver, $9.2 million under a Wells Fargo term loan, $4.6 million of undrawn letters of credit, and a $6.8 million subordinated loan, as described in the Duffy first-day declarationDkt. 24.

The restructuring path was liquidation rather than reorganization. Before filing, Modell’s had pursued vendor and landlord negotiations and a January 2020 marketing process involving potential strategic buyers, but those efforts did not produce an out-of-court transaction; the first-day record instead framed the case around stabilizing the estate long enough to run store closings, preserve employee continuity during the wind-down, maintain cash management, and monetize assets through a Tiger Capital-led store-closing process under the Duffy first-day declarationDkt. 24. The post-confirmation estate later shifted into litigation and recovery work, including 2022 fraudulent-transfer adversary complaints by the MSGI Liquidation Trust against Modell-related parties and affiliated entities in the and the .