Sports Authority to Shut Down all Stores

          It appears that Sports Authority will be going the way of the dinosaur.   Back in March, the company filed for Chapter 11. At that time, Sports Authority indicated it would close 140 stores and two distribution centers. Saddled with over $1.1 billion and unable to reorganize, the retailer will liquidate all stores and bring its store operations to a close. Closing all 450 stores across the nation is the final segment in the company’s aim to reorganize under Chapter 11 protection.

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Sports Authority Files for Chapter 11 Bankruptcy

If you have a job at the Sports Authority, you may want to dust up that resume. That’s because the sports retailer filed for Chapter 11 bankruptcy Wednesday. Amongst its creditors are Nike, to whom it owes a whopping $48 million dollars , and Under Armour $23 million. The company has been adversely affected by more shoppers purchasing online, rather than brick-and-mortar locations. They are planning to close 140 of their 463 stores as well as two distribution centers in Denver and Chicago, respectively.

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