Modell’s Sporting Goods Prepares Bankruptcy Filing, CEO Says (1)

Modell’s Sporting Goods Inc. is preparing a bankruptcy filing that could come as soon as Sunday after the retailer failed to garner enough support from its vendors and landlords.

Following weeks of negotiations with its stakeholders, the family-owned retail chain is looking to file for Chapter 11 protection and sell assets through a court-supervised bidding process, Chief Executive Officer Mitchell Modell said in an interview Friday.

“Anything could happen” in the process, which is still under negotiation, Modell said. “The best-case scenario is that we maintain as many jobs as we can.”

Modell said that a number of retailers have ...