The past few years have seen a number of major sporting goods brands file for Chapter 11 bankruptcy protection.
Bob’s Stores, Next Adventure, and Moosejaw all shut down in 2025, while Eastern Mountain Sports closed many of its locations. Eddie Bauer is currently in the process of closing its stores in the United States, and Orvis has closed more than 35 locations.
Pickleball, however, has been a massive growth story.
“An estimated 48.3 million Americans have played pickleball, a cross between ping-pong and tennis, at least once in the last 12 months, representing an increase of 35% in the last six months alone,” according to data from USChamber.com.
That has created a lot of sales, but the growth of the sport has not been enough to sustain Gamma Sports, a retailer that specializes in wholesale and retail sales of paddle sports equipment and apparel.
The company has filed for Chapter 11 protection from creditors in the Western District of the U.S. Bankruptcy Court.
Paddle sports chain files for Chapter 11 bankruptcy
Gamma Sports has a history that dates back to two years before Pickleball was created in 1965.
“The company, based on Herrs Island, sells pickleball, tennis, and paddleball equipment and related apparel online and through retailers. It was founded in 1963 by a nuclear engineer, Harry Ferrari, an avid tennis player who developed a patented irradiation process to improve synthetic strings for tennis rackets. As its popularity has grown, the company’s website has been more focused toward pickleball products,” The Pittsburgh Business Times reported.
The company has filed for bankruptcy despite the growth of Pickleball.
“For the fourth consecutive year, pickleball is the fastest-growing sport in the U.S.,” confirmed the 2025 Sports & Fitness Industry Association (SFIA) Participation Report. “In 2024, 19.8 million Americans participated in pickleball, a 45.8% increase from the 2023 figure and an incredible 311% increase from three years ago.”
Ferrari Importing, Inc., doing business as Gamma Sports, Chapter 11 facts:
- The company has assets of $1 million to $10 million and liabilities of $1 million to $10 million.
- Among its 20 largest non-insider creditors, three are owed more than $100,000. Tri-Great International Ltd., a wholesale supplier of tennis equipment, is owed $152,701; Ming-Hsing Leather Co., a grip manufacturer, is owed $126,065; and Zhejiang Teloon Group Co. Ltd., a tennis ball maker, is owed $102,115.
- Gamma is represented in the voluntary filling by Jason Ott and Jillian Nolan Snider of Frost Brown Todd, based downtown.
- Case number: 2:26-bk-20738, Pennsylvania Western Bankruptcy Court
Source: PacerMonitor
The law firm did not respond to a request for comment on the proceedings from the Pittsburgh Business Times.
“Based on a tax form as part of the Chapter 11 petition, Gamma had gross sales in 2024 of about $14.23 million and posted a loss of about $3.26 million,” the business journal reported.
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Sporting goods brands have struggled
While Gamma Sports operates online and as a wholesaler, sporting goods retailers have struggled in brick-and-mortar spaces, which has likely impacted the company’s sales to partners.
“Mall stores have lost shoppers to stand-alone and online operations in the past two decades, a trend mirrored in the athletic-goods space,” David Swartz, senior equity analyst at Morningstar Research Services, told The Washington Post.
More Sporting Goods Struggles:
- Popular sports apparel retail chain files Chapter 11 bankruptcy
- 38-year-old Dick’s Sporting Goods rival closing stores
- 71-year-old firearms and outdoor brand files Chapter 7 bankruptcy
Supply-chain issues and consumer sentiment have also impacted retail broadly, according to data from McKinsey.
“For the first time since the global pandemic has started to weaken, we see consumers becoming more pessimistic rather than optimistic. Our consumer surveys in the United States and Europe show that concern over prospects for an economic recovery has increased significantly and is now higher than during the Covid-19 crisis,” the consulting firm shared.
Key sporting goods brands have filed for bankruptcy
- Eddie Bauer, filing Chapter 11 and closing North American stores: Outdoor apparel chain Eddie Bauer LLC filed for Chapter 11 bankruptcy in early 2026 and is winding down its physical retail footprint across the U.S. and Canada, with roughly 175-180 store closures planned as part of liquidation or sale efforts, reported TheStreet.
- Orvis, planned closures of full‑price and outlet stores: Orvis revealed plans in 2025 to shutter 31 full‑price stores and five outlet locations nationwide as part of strategic refocusing due to rising costs and changing consumer demand, according to another TheStreet story.
- Bob’s Stores & Eastern Mountain Sports: Its parent company filed for bankruptcy and announced the permanent closure and liquidation of all Bob’s Stores and a reduction/closure of many EMS locations in 2024, RetailDive reported.
- Big 5 Sporting Goods, multiple closures in 2025: Big 5 announced eight store closures in 2025 as part of ongoing footprint optimization while adjusting to market pressures, TheStreet also reported.
- Next Adventure: The longstanding Portland, Oregon‑area outdoor gear retailer Next Adventure announced plans to close all of its locations by late 2025 amid owner retirement and market challenges, the company shared on its website.
- REI, select store closures: REI will close specific locations as part of broader store portfolio adjustments in 2025-2026, according to USA Today.
Related: Major U.S. military vendor files unexpected Chapter 11 bankruptcy
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