Sports Authority announces plan to liquidate all 450 stores

Written by |

If you have a gift card to Sports Authority, you may want to go ahead and use that as soon as possible.

Read more: 11 retailers closing the most store this year

Sports Authority may liquidate all 450 stores

The sporting goods store has decided to sell off its assets, after suspending attempts to reorganize under Chapter 11 bankruptcy protection, which the company filed in March. That reorganization included plans to close 140 stores and two distribution centers.

Since the retailer is facing $1.1 billion in debt, it says it won’t be able to reorganize in order to keep stores up and running and notified the bankruptcy court that it is instead pursuing a sale.

According to Forbes, the company’s assets will go up for auction May 16, and while ‘buyers could emerge who would keep the doors open in at least some locations,’ it’s possible that all 450 stores will be liquidated.

Read more: Kohl’s is closing these 18 stores across U.S.

Welcome bonuses can be a great way to boost the value of a credit card. Best Credit Card Welcome Bonuses for 2022 - If you're in the market for a new credit card in 2022, you may be hoping to cash in on the hundreds of dollars in sign-up bonuses offered to new customers. Welcome bonuses and offers are a marketing tool that…
The best cell phone plans include Tello, Mint Mobile, Visible, T-Mobile, Consumer Cellular and more Best Cell Phone Plans in 2022: The Cheapest Plan for Every Need - Team Clark ranks the best cell phone plans and deals! See our favorites for unlimited data, families and cheap plans starting at $10/month.
Clark Deals
  • Show Comments Hide Comments