Heritage Collegiate Apparel, the official sports merchandise retailer of the University of Michigan athletics more commonly known as The M Den, has filed for Chapter 11 bankruptcy, the organization announced Friday.
The bankruptcy filing comes amid reports that Heritage Collegiate Apparel hopes to sell the company while facing a barrage of claims from landlords and merchandise vendors regarding a host of unpaid bills and missed rent payments.
While Michigan merchandise sold well following the football team’s 2023 NCAA National Championship, financial issues have been mounted for the retailer.
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The largest known claim against the organization comes from a sportswear manufacturer in Kansas that claims The M Den and its co-owner and president, Scott Hirth, of Carleton, owe more than $4 million.
In another, a New York-based firm claimed The M Den owed $437,000 in March after The M Den allegedly defaulted on a merchant cash advance agreement.