US sporting goods retailer Modell's files for bankruptcy protection

• Sporting goods retailer Modell’s Sporting Goods filed for Chapter 11 protection.
• The privately owned company calls itself the oldest U.S. family owned and operated sporting goods retailer.
• The company said it will continue to explore recapitalization through a potential sale of some or all its assets. 

Modell's Sporting Goods store in North Brunswick Township, New Jersey.

Michael Brochstein | SOPA Images | LightRocket via Getty Images

Sporting goods retailer Modell's Sporting Goods filed for Chapter 11 protection in the U.S. bankruptcy court in New Jersey on Wednesday, citing a challenging retail environment.

The privately owned company, which calls itself the oldest U.S. family owned and operated sporting goods retailer, said it will continue to explore recapitalization through a potential sale of some or all its assets.