PARAMUS, N.J. Two months after it filed for Chapter 11 bankruptcy protection, Sports Authority will liquidate all of its assets, according to a report on Forbes.com.
Sports Authority notified the United States Bankruptcy Court in Delaware last week that it would not be able to reorganize and would pursue a sale amid the $1.1 billion in debt it owes, the report stated.
Most of the companys assets will go up for auction May 16; it is possible that all of companys stores could be liquidated, the report said.
The company has more than 450 stores in 41 states and employs more than 14,500 people.
There are 21 Sports Authority locations in New Jersey, including two in Paramus. There are also stores in Wayne, Ramsey, and Riverdale. The Wayne locat…
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