Sports Authority To Close 450 Stores
All going-out-of-business sales will start today at Sports Authority locations nationwide, according to a press release by the liquidators of the company.
Gordon Brothers Group, Hilco Merchant Resources, and Tiger Capital Group are assisting with the transition. The deal was approved in U.S. Bankruptcy court on Tuesday.
All 450 stores will shut down.
“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,” stated Michael Foss, Chief Executive Officer of Sports Authority. “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.”
On its homepage, the retailer said most items are being sold up to 30% off. Gift cards will be honored until June 27, 2016.