Tea Olive I, the corporate name of the 25-door farm, hardware, outdoor and sporting goods chain, filed for Chapter 11 in MN bankruptcy court and will liquidate inventory at all stores with GOB sales starting immediately. The retailer is owned by CEO Matthew Whebbe and his family, who blamed the pandemic for the decision to shut down. Revenues tumbled to $141.5 million in 2020 from $173.9 million the year before, resulting in a net loss. Sporting goods represented about 14% of sales and guns and ... Log in to view full article.