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The clock has run out. Sports Authority to Liquidate

Sports Authority

Sports Authority filed for Chapter 11 bankruptcy protection in March. At that time, they announced they would close or sell 140 stores and two distribution centers.

The retailer is carrying more than $1.1 billion in debt and does not appear to be able to reorganize.

On Tuesday, the company’s lawyer notified the court that the debtors will not reorganize under chapter 11 and will pursue a sale.

Sports Authorities website has not been changed to reflect this news, but expect discounts and sales to accelerate.

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Posted May 1, 2016