Reuters reports that Sports Authority is expected to file for bankruptcy protection "as early as next month," having "missed a $20 million coupon payment on Jan. 15, triggering a 30-day grace period to work out a compromise with creditors."
It is believed that Sports Authority will use a bankruptcy filing to close up to 200 of its 450 stores that are deemed to be "underperforming."
It is believed that Sports Authority will use a bankruptcy filing to close up to 200 of its 450 stores that are deemed to be "underperforming."
- KC's View:
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I've bought a lot of baseball mitts and jogging stuff at Sports Authority over the years, but I have no sense that the chain's stores are significantly different now than they were 20 years ago. Which could be the problem.
