Olympia Sports Selects SB360 as Exclusive Agent to Conduct Closing Sale for 76 Stores
WESTBROOK, Maine – October 31, 2019 – Olympia Sports, the prominent Maine based athletic footwear and apparel chain, has selected SB360 Capital Partners LLC (www.sb360.com), as their exclusive agent to conduct “Store Closing” sales in 76 stores. Olympia, which was recently acquired by sports retailer JackRabbit, will continue to operate its remaining 75 stores under the Olympia Sports’ banner. The 76 closing stores were not part of the acquisition.
The “Store Closing” sale starts Friday, November 1, and includes $44,000,000 of inventory from the top brands in athletic footwear and apparel. Storewide discounts will be offered on all Men’s, Women’s and Kids’ sneakers, running shoes, basketball shoes, boots, joggers, sweatpants, hoodies, sweatshirts, long and short sleeved t-shirts, coats, socks, hats, and much more.
Olympia Sports opened their first store in 1975 in South Portland, Maine. Over the course of the next 44 years Olympia developed a premium athletic brand assortment sold in more than 150 locations throughout the Northeast, Mid-Atlantic, and Midwest.
Aaron Miller, Executive Vice President of SB360, said “Olympia Sports has been the destination store for sports enthusiasts throughout New England and beyond for decades. Because of their reputation in the markets they serve, the “Store Closing” discounts offered off Olympia’s already competitive prices will make for a very fast-paced sale.”
“The Olympia Sports stores occupy a space as the home-town favorite in most of the communities where the stores are located,” said Ziggy Schaffer, Executive Vice President of SB360. “They’re well known for providing superior customer service and offering great value on authentic athletic footwear and apparel. With liquidation pricing, Olympia’s shoppers will have an opportunity to get the best product at the lowest price.”
“The holidays are quickly approaching,” Mr. Miller said. “There’s no need to wait for Black Friday deals with Olympia’s store closing discounts starting this weekend.”
SB360 Capital Partners is one of North America’s largest and most experienced companies providing asset disposition and advisory services. Over the last few months, SB360 has worked with retailers as diverse as Fred’s Inc., Charlotte Russe, A’Gaci, Charming Charlie, and others to conduct liquidation and Store Closing events in more than 2,000 stores.
About SB360 Capital Partners LLC – SB360 Capital Partners (www.sb360.com), a Schottenstein Affiliate, helps businesses manage change, restructure assets, and turn around dwindling profitability. SB360 makes equity investments to infuse capital for growth opportunities, fund turnarounds, and provide liquidity to businesses experiencing change. SB360 acquires assets of all types including inventory, fixed assets, intellectual property, real estate, and complete business units. The firm’s asset disposition services range from providing guaranteed asset value recovery to acting as a liquidation consultant. Additionally, SB360 has entities engaged in real estate advisory, commercial real estate investment, and the operation of the SBC Logistics Asset Recovery Center in Columbus. A lending affiliate, Second Avenue Capital Partners, provides asset-based loans for middle market companies. The principals of SB360 hold extensive commercial interests in national retail and wholesale operations; internationally recognized consumer brands; commercial, residential, and industrial real estate properties; and financial service operations.
About Olympia Sports – Olympia Sports was originally established in 1975 at the Maine Mall in South Portland, ME and currently operates more than 150 convenient brick and mortar locations while also serving online customers via their e-commerce site, www.olympiasports.net. Olympia Sports has been a leader and household name when it comes to providing premium athletic specialty brands, sporting goods and superior customer service to their customers and local communities throughout the Northeast & Mid-Atlantic.