Stateside Sports, a retailer of US-focused licensed sports merchandise, has entered voluntary administration and is expected to be sold as a going concern.

Founded in 2017, Stateside Sports offers products across the NBA, NFL and Major League Baseball, and premium streetwear brands such as Nike, Mitchell & Ness and New Era, along with Australian products including NRL retro jerseys.

The retailer has 31 stores across Australia and an integrated e-commerce platform.

The company has appointed Antony Resnick and Henry Kwok from DVT Mcleods as administrators, who are now assessing the business with a view to selling it as a going concern.

“While we will be focusing on changes in its operations and retail footprint as a matter of urgency, for now it is business as usual and products will continue to be sold in-store and online,” said Resnick.

According to the administrator, Stateside Sports was impacted by the three-fold threat of a downturn in consumer discretionary spending, inflationary cost pressures and cut-throat competition from global retail platforms.

“Australian retail has never been a game for the faint-hearted but even for Stateside Sports who are operating in a niche, youth-focused, brand relevant market, current trading condiJons are tough,” he said.

For buyers, Resnick said the company represents a compelling acquisition opportunity thanks to its strong awareness, positioning and scalable e-commerce infrastructure.

DVT Mcleods will focus on a recapitalised, leaner operating model, with a smaller physical store footprint.