SAM Magazine–Boston, Mass., January 4, 2010–On December 29, 2009, wintersports retailer Ski Market filed for Chapter 11 bankruptcy protection. According to the Boston Globe, Ski Market employs 170 full- and part-time employees in seven retail stores in New England.
From April 1, 2008 to March 31, 2009, the retailer reported $22.5 million in gross sales. From April 2009 through mid-December, gross sales were less than $7 million.
While Ski Market hopes to remain in business, the company owes $4 million to its bank and a little more than $1 million to other creditors. It also owes $610,000 in rent and carries $4.5 million in trade debt.