A group of Florida investors have purchased Active Ride Shop out of bankruptcy for $5.2 million, according to a story in the Press Enterprise.
A limited liability company called Active Sports Lifestyles USA emerged as the winner among five bidders in a Tuesday auction ordered by the U.S. Bankruptcy Court in Riverside. Attorney Marc Winthrop, who conducted the auction, said the buyers plan to keep all of Active’s operations intact, including its Mira Loma headquarters and warehouse, as well as its 21 Southern California stores.
Zumiez, who had expressed interest in the retail chain, was not even among the final bidders. “The sale is expected to be completed by the end of the month, Winthrop said.”
[Link: Press Enterprise]
Wow, someone got a pretty good deal. I would assume that their mailorder/ e-commerce operation is worth $5.2 million alone and then through in 21 retail stores. Not bad. Group of Florida investors? Hopefully they don’t rebrand Active, and call it SPOT.
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