PHILADELPHIA (BRAIN) — A Brooklyn, New York, company has agreed to acquire the intangible assets of the bankrupt sporting goods chain Olympia Sports for $180,000. The assets include CleverTraining, an e-commerce retailer that was once active in the cycling and triathlon markets.
According to Hilco Streambank, a liquidation specialist that conducted the auction, CleverTraining’s peak annual sales were $11.8 million; it’s not clear when the site shut down. According to a sales agreement, the purchase included the clevertraining.co.uk and clevertraining.com domains and a customer database that includes 96,700 customer files and associated transaction data. (The Olympia Sports customer database, also acquired, has 640,000 names.)
The purchase also included assets related to Surf Outfitter and Olympia Sports, as well as dozens of e-commerce domains, ranging from apparel-buy.com to tredsafefootwear.com.
The buyer is 54 Glen Cove Realty LLC, which was represented at the auction by Albert Fouerti, a Brooklyn entrepreneur who has been active in the appliance business. The purchase still must be approved by the bankruptcy court, with a sales hearing scheduled for Thursday. Other bidders included Scheels Sports, the North Dakota-based operator of a chain of massive sporting goods stores across the mid-section of the U.S.
Olympia, which once had 230 stores across the Northeast, filed for bankruptcy last Sept. 11, listing debts of $28.7 million. It closed its remaining 35 stores in the fall.
Florida-based CleverTraining was founded in 2002. In 2018 it was acquired by Jackrabbit, a running retailer backed by the private equity firm CriticalPoint Capital. Jackrabbit acquired Olympia in 2019; all of CriticalPoint Capital’s sports businesses were consolidated as Running Speciality Group.
Running Specialty Group sold Jackrabbit to Fleet Feet in 2021 for nearly $50 million, and later sold ShoeBuy.com, as well. But it retained Olympia, CleverTraining, SurfOutfitter and several other e-commerce businesses, which were included in the auction. Prior to the auction Running Speciality group agreed to pay $15,000 for shares in Rogue Running Training LLC, which Olympia had among its assets. That private purchase also still needs to be approved by the court.
