Sports Authority to close all remaining stores

[LiberalElite]

Last edited Thu May 19, 2016, 11:08 PM - Edit history (1)

http://money.cnn.com/2016/05/18/news/companies/sports-authority-closing/

Sports Authority, once the nation's largest sporting goods retailer, will close its remaining stores after failing to find a buyer for them.

The bankrupt company plans to conduct going-out-of-business sales at all of its locations that weren't already slated to close, according to a new bankruptcy court filing in Delaware

It also said it found a group of buyers for its remaining assets, including inventory, furniture and other fixtures.

When it filed for bankruptcy in March, the company said it would close only 140 of its 450 stores. But when it failed to reach a deal with creditors and lenders, it announced it would sell all its assets. Still, there was some hope that it might find a buyer who would keep the chain running.

[TipTok]

1. Nasty store...

Felt like a sporting Kmart.

[LiberalElite]

3. wasn't always -

I see it as "private equity strikes again" and more people out of work.

[Recursion]

4. I'd say it's more "the Internet strikes again"

It's happening to most specialty box retailers.

[LiberalElite]

5. a hedge fund purchased the chain and loaded it with debt nt

[Blue_Tires]

9. It didn't always use to be that way...

Although they were badly in need of an interior refresh once Dick's started encroaching on their territory...

It *still* feels like I'm a high schooler back in 1992 whenever I walk in there...

[Demonaut]

2. so many people will lose their jobs, it's sad

[yellowcanine]

6. Too bad. One of the better run sporting goods stores, imo.

[dembotoz]

7. it served a nice purpose for me as a go to place before the kids became serious about a sport

not the top flight equipment but the good enuf equipment

[Iggo]

8. And that's the thing. For the most part, if you needed it, they had it.

Gonna leave a giant hole in our local shopping center.