Sports Authority is closing

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Sports Authority, in planning to close all of its stores,is set to launch its going-out-of-business sales this week, according to court documents.

In shutting down, the 463-store chain becomes the latest casualty among rivals for the sporting-good business. It follows the recently announced closure of the Sport Chalet chain, based on the West Coast. While sporting goods and athletic wear sales are growing, traditional retailers like the two chains have been hurt by competition from online.

Sports Authority’s final sales are expected to start by Friday and finish by the end of August, the documents state.

The big-box chain, which filed for bankruptcy protection less than three months ago, had initially planned to try to sell or close about a third of its retail sites in order to strengthen and streamline its operations. But the retailer, based in Englewood, Colo., added that if attempts to restructure its debt failed, it might close all of its stores.

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Source: cuocdoidanghien.com

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9 COMMENTS

  1. Tough times in a tough world.. I hate to see people lose their jobs especially when the company goes under. I wouldn't wish this on my enemy, it just sucks to see people lose their jobs.. I wish all their employees well in their next chapter.

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