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Sports Authority to close all remaining stores
Source: CNNMoney
Sports Authority to close all remaining stores
by Chris Isidore @CNNMoney
May 18, 2016: 3:43 PM ET
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.
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by Chris Isidore @CNNMoney
May 18, 2016: 3:43 PM ET
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.
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Read more: http://money.cnn.com/2016/05/18/news/companies/sports-authority-closing/
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