Sports Authority Begins Closing Retail Locations

Sports Authority has begun liquidating assets at its 450 U.S. locations through going out-of-business sales. The news came from the joint venture group comprised of Gordon Brothers Group, Hilco Merchant Resources and Tiger Capital Group, whose bid was approved by the U.S. Bankruptcy Court.

Gordon Brothers Group, along with Tiger Capital, began assisting Sports Authority with the wind-down of 142 stores in March after it filed for Chapter 11 bankruptcy protection as part of an operational restructuring plan.

[Related:Sports Authority Calling It Quits]

The sales will cover all stores, with items ranging from shoes, clothing, athletic gear and accessories from popular brands like Under Armour, Nike, North Face, Wilson, Adidas, Spalding, ASICS, Head, Coleman, Everlast and Brooks. Sports Authority gift cards will be honored through June 27. Everything must go – even store fixtures, furniture and equipment will be available for sale.

Sports Authority and its predecessor companies, including Gart Sports, Sportmart, Oshman’s and Copeland’s Sports, have been selling sporting goods since 1919.

“Words cannot adequately express the disappointment we feel with the need to shut down our stores. We pursued both a plan of reorganization, as well as a sale of our business, but were unsuccessful in reaching an agreement that would have allowed Sports Authority to continue to operate,” said Sports Authority CEO Michael Foss in a statement. “We sincerely thank our loyal customers for supporting our company over the years and encourage them to shop early for tremendous values on their favorite sporting good products.”

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