Rockport has agreed to a sale to private equity firm Charlesbank Capital Partners, following its bankruptcy. Rockport expects the sale, which will require approval by the court overseeing the shoe seller's Chapter 11 case, to close by July 31. Reebok and its parent Adidas former owners of Rockport that continued an operating relationship with the company after selling it in 2015 have objected to the sale, stating it cannot transfer key assets to Charlesbank while failing to account fully for $54 million owed to the shoe brands.

The German sportswear multinational brought Rockport under the Adidas umbrella in 2005 when it bought Reebok, the brand's parent company since 1986. Adidas, known for actively protecting its intellectual property rights, added in its court papers that it has not yet given consent to Rockport to use its intellectual property rights. The company clarified that it does not object to the sale of the company in itself and actually wants to work together with Rockport, but it does have issues with the current terms proposed to the court.