Closes Two Offices, Lays Off 79 Employees

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Online sports and outdoor retailer, whose backers include former Denver Broncos player John Elway, Michael Jordan and Wayne Gretzky has closed offices in Boulder, CO, and Austin, TX --- operations that were acquired earlier this year. In all, the company will lay off 79 employees, including 20 from its Chicago headquarters.

Operations will now be consolidated in the Chicago office.

"This move will help lower the company's cost structure to operate more effectively and efficiently in a challenging business environment," a statement from said.

The changes will not affect customers, the company added. The site at will continue to sell 40,000 items from over 400 brands of sporting goods, outdoor gear and apparel.

Only last week announced it had signed a deal to feature the specialty gift gallery of, a Kent, CT, retailer of consumer technology products.

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