Michigan Athletics retailer M Den files for bankruptcy, seeking new ownership

(CBS DETROIT) — Heritage Collegiate Apparel, largely known as M Den, announced on Friday that it has filed for Chapter 11 bankruptcy, a day after closing its Novi location.

The closure of the Twelve Oaks Mall in Novi was effective immediately in preparation for selling the business.

The company hopes bankruptcy is part of the potential sale, which it hopes to complete soon. In the meantime, its other locations will remain open, and the company looks forward to the upcoming football season.

"We thank you, our loyal customers, for all your support over these nearly 50 years, and it has been our distinct honor and privilege to serve you and the University," M Den said in a statement.

M Den has four stores in Ann Arbor, including one in Briarwood Mall and one in Detroit.