Sports Authority is in the process of closing all of their stores. Here is a list of store locations that will be closing.
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The stores that are closing
According to the Wall Street Journal, here is the list of Sports Authority stores that are closing.
-Baldwin Park, CA
-Baltimore (Security), MD
-Big Flats, NY
-Birmingham (Hoover), AL
-Boynton Beach, FL
-Canoga Park, CA
-“East Los Angeles”, CA
-“Everett Mall”, WA
-“Fayetteville (Owen Dr.), NC”
-“Fort Wayne (Jefferson Blvd.), IN”
The reasons behind the closures
In 2016, bankruptcy filings and store closings plagued the sporting goods retailer landscape. Among the hardest hit was Englewood, Colorado-based Sports Authority, Inc., which filed for Chapter 11 bankruptcy in March. In May, the company revealed that it would be selling or closing all of its 463 stores in the United States.
Sales had been in decline for years at Sports Authority, as the company failed to keep up with changes in the sporting goods industry. For example, Dick’s Sporting Goods (NYSE: DKS) has pivoted to focus on golf and fishing as interest in traditional sports like football has waned.
Other factors that likely contributed to Sports Authority’s demise include increased competition from Amazon.com (NASDAQ: AMZN) and other e-commerce retailers, as well as a general slowdown in spending on sporting goods.
The effects of the closures
On Wednesday, March 2, 2016, it was announced that all 450 Sports Authority stores would be closing. This is due to the company filing for bankruptcy. The company plans to start the closing process in late March.
This is a huge loss for many communities across the United States. For some, the Sports Authority was the only place to buy sporting goods. Now, these people will have to travel farther or shop online for their sporting goods needs.
The closure of Sports Authority stores will also have a ripple effect on other businesses. For example, companies that supplied Sports Authority with inventory will now have to find new customers. And, of course, there are the employees who will be out of a job. Many of these employees worked at Sports Authority for years and now they must find new employment.
The closure of Sports Authority stores is sure to have a negative impact on many communities across the United States.
The future of Sports Authority
Sports Authority, once the go-to retailer for sporting goods, is now in the process of shutting down all of its stores. The company filed for Chapter 11 bankruptcy in March 2016, and after struggling to find a buyer, it was announced in May that all of the company’s assets would be auctioned off.
preliminary auction bids were due on July 12th, and a few retailers have already expressed interest in purchasing some of Sports Authority’s assets. Dick’s Sporting Goods has been approved by the bankruptcy court to purchase 27 of Sports Authority’s stores, and other retailers are considering purchasing parts of the company as well.
The fate of Sports Authority’s employees is still up in the air; Dick’s has said that they will be interviewing former Sports Authority employees for open positions at their new stores. However, it is unclear how many positions will be available, or if other retailers who purchase parts of Sports Authority will also be hiring former employees.
The history of Sports Authority
Sports Authority was founded in 1987 and was once the go-to retailer for sporting goods. The company specialized in selling equipment and apparel for a variety of sports, including baseball, basketball, football, golf, and more. Sports Authority was also known for its competitive prices and had a large online presence.
The company began to struggle in the early 2000s, as big-box retailers like Walmart and Target began to sell more sporting goods at lower prices. In 2005, Sports Authority went private in a leveraged buyout led by investment firm KSL Capital Partners. The move left the company saddled with debt, and it struggled to compete against its cheaper rivals.
In March 2016, Sports Authority filed for Chapter 11 bankruptcy protection. The company announced that it would close 140 stores nationwide, including all of its stores in Colorado. On August 17, 2016, Sports Authority formally announced that it would liquidate all of its assets and close all 450 of its stores.
The company’s bankruptcy
The company’s bankruptcy means that some of its stores will be closing. Here’s a list of the stores that will be closing.
The liquidation process
In early March 2017, struggling sporting goods retailer Sports Authority announced it would be closing all of its stores across the United States. The move came as a result of the company’s inability to find a buyer after filing for Chapter 11 bankruptcy protection in March 2016.
At the time of the announcement, it was not clear how many stores would be closing or when the liquidation process would begin. However, it was reported that going-out-of-business sales could start as early as late March 2017.
As of April 2017, it appears that most, if not all, Sports Authority stores will be closed by the end of August 2017.
The auction of Sports Authority’s assets
The sporting goods retailer Sports Authority filed for Chapter 11 bankruptcy protection in March 2016. In May, the company announced that it would sell its assets in a bankruptcy auction. As part of the sale, a number of Sports Authority stores will be closed.
The closing sales
In an effort to reduce debt and regain profitability, Sports Authority is closing 150 stores across the United States. The sporting goods retailer filed for Chapter 11 bankruptcy protection in March 2016 and has been struggling to stay afloat.
The closing sales are currently underway and are expected to last for several weeks. All items in the stores are discounted by 20-40%, with some discounts going as high as 70%. Gift cards will be honored until May 16, 2016.
The following Sports Authority stores are scheduled to close:
-Alabama: Huntsville, Mobile
-Arkansas: Little Rock
-Arizona: Mesa, Phoenix (2), Tempe
-California: Burbank, Dublin, Modesto, Natomas (Sacramento), San Diego (2), San Francisco, San Jose, Santa Ana, Thousand Oaks
-Colorado: Colorado Springs (2), Denver (4), Fort Collins, Lakewood
-Connecticut: Danbury, Waterbury
-Florida: Clearwater, Jacksonville Beach, Miami (3), Orlando (2), Pompano Beach, Port Charlotte, Tampa (2) West Palm Beach
-Georgia: Atlanta (3), Augusta, Macon Savannah
-Hawaii: Honolulu Kailua-Kona Maui Pearl City Waipahu
-Idaho: Boise Nampa Twin Falls Idaho Falls Coeur d’Alene Pocatello Rexburg Eagle Meridian Caldwell Chubbuck Garden City Lewiston
What customers can expect
The national retailer Sports Authority announced it will be closing all of its stores nationwide after declaring bankruptcy.
The company filed for Chapter 11 bankruptcy protection in March, hoping to reorganize and find a buyer for its business. But after failing to do so, Sports Authority has decided to liquidate its inventory and close all 463 of its stores.
All stores will remain open until further notice, and customers can expect sales of up to 30% off on merchandise. Store closings are expected to begin in late May or early June, and all stores are expected to be closed by the end of August.
Sports Authority is the latest casualty in the competitive sporting goods industry, which has been struggling in recent years with declining sales and increased competition from online retailers such as Amazon.