Sports Authority Files for Bankruptcy: 450-Store Closure Could Leave 14,500 People Jobless
Sports Authority may soon join the ranks of a growing number of now-shuttered brick-and-mortar retail giants.
Outdoor apparel giant Sports Authority has filed for Chapter 11 bankruptcy protection and the retail chain could close all or most of its 450 stores nationwide as it struggles to pay off a reported $1 billion debt.
Sports Authority is “pursuing a sale of some or all of the business,” a company statement said. “We have received initial expressions of interest from a number of potential buyers, and we are optimistic about the results of the sale process.”
Founded in 1928, the athletic apparel retailer was once the largest sporting goods chain in America.
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