In March, the company said it would only close 140 stores, including a store in Manalapan, but after lenders could not agree on terms for reorganization, the remaining stores will be liquidated.
Advertisement
The sports retailer has already started discounting sneakers, clothing and other goods at some locations.
Sports Authority’s name, and the right to keep it on the home stadium of the Super Bowl champion Denver Broncos, went unsold at a bankruptcy auction Monday, according to three people familiar with the bidding results. The once leading sports goods retailer, had 14,500 employees at the time of filing.
Sales for going out of business could begin as early as this week at every store and continue through August 31, said court filings.
Details about when the remaining stores will closed has not been released yet.
So if you need to purchase any sports equipment – from soccer cleats to running gear to a fishing pole – you won’t want to miss the Sports Authority liquidation sales.
A spokeswoman for Mesa Mall declined to answer questions about the fate of the store or if there are any other businesses waiting in the wings to rent the 44,000-square-foot space that Sports Authority occupies.
In 1987, “Sports Authority” was founded in Fort Lauderdale.
Sports Authority moved its headquarters to Denver following its 2003 merger with Denver-based Gart Bros.
The winning bidders topped a rival offer from a second group of liquidators that included Yellen Partners, SB Capital Group and 360 Merchant Solutions.
The bankruptcy protection filed by Sports authority aims for a reconstruction of all its stores spanning across 41 U.S. states with Puerto Rico.
Among those that are interested, according to published reports, are Dick’s Sporting Goods and Modell’s Sporting Goods.
At the Sports Authority store in the Ikea shopping center in Paramus Friday, employees were conducting business as usual, and there were no clearance or going-out-of-business signs.
Advertisement
It reported $3.5 billion in revenue in 2015.
