In the early 21st century, Modell's faced declining sales which Mitchell Modell has blamed on increased competition, poor performance by professional sports teams, and increased temperatures caused by climate change. In May 2019, Modell lent the company $6.7 million to avoid bankruptcy; in February 2020 the company announced that it intended to close 24 stores. However, in March 2020, the company filed for Chapter 11 bankruptcy and announced that it would liquidate its 134 remaining stores, with Tiger Capital being appointed as the liquidator. The liquidation began on March 13, 2020. All their stores were closed by the end of August 2020.