On January 29, 2009, Sport Chalet, Inc. (the "Company") and its wholly-owned subsidiary, Sport Chalet Value Services, LLC ("SCVS"), entered into a Second Amendment to Amended and Restated Loan and Security Agreement and Limited Forbearance Agreement (the "Second Amendment") dated as of January 29, 2009, with Bank of America, N.A. (the "Bank") as agent for the lenders under that certain Amended and Restated Loan and Security Agreement, as amended, dated as of June 20, 2008 (the "Loan Agreement").

Under the Second Amendment, the Bank has agreed to extend the period during which it will forbear from exercising its rights in respect of certain defaults under the Loan Agreement from January 31, 2009 until the earlier to occur of any further default under the Loan Agreement or March 2, 2009. Such events of defaults are described in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on January 16, 2009.

The foregoing summary is qualified in its entirety by reference to the copy of the Second Amendment which is attached as Exhibit 99.1 to this Report and is incorporated herein by this reference.

On January 29, 2009, the Company entered into the Second Amendment described in Item 1.01 above, which description is incorporated in this Item 2.03 by this reference.

On February 2, 2009, the Company issued a press release announcing that its Board of Directors is engaged in an evaluation of its strategic alternatives. A copy of the press release is attached as Exhibit 99.2 to this Report and is incorporated herein by this reference.

The information furnished in Item 7.01 of this Report, including the exhibits incorporated by reference, will not be treated as "filed" for the purposes of
Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section. This information will not be deemed incorporated by reference into a filing under the Securities Act of 1933, or into another filing under the Exchange Act, unless that filing expressly refers to specific information in this Report. The furnishing of the information in Item 7.01 is not intended to, and does not, constitute a representation that such furnishing is required by Regulation FD or that the information this Report contains is material investor information that is not otherwise publicly available.

(d) Exhibits.

 Exhibit Number                       Description of Exhibit
      99.1        Second Amendment to Amended and Restated Loan and Security
                  Agreement and Limited Forbearance Agreement dated as of
                  January 29, 2009, among Sport Chalet, Inc., Sport Chalet Value
                  Services, LLC and Bank of America, N.A.
      99.2        Press release dated February 2, 2009, entitled: "Sport Chalet
                  Announces Review of Strategic Alternatives."