Modell’s (New York) will be closing 24 stores in hopes of saving the company, reports Footwear News.
Its CEO Mitchell Modell gave an interview Friday, Feb. 21, with Fox Business in which he confirmed the news and said the move was in order to try and save “4300 families’ jobs.”
In March of 2019, the company had hired a restructuring advisor amidst rumors of its possible bankruptcy, due in part to loss of business to online stores and big-box retailers like Walmart and Dick’s Sporting Goods, Footwear News says.