The Sports Authority will begin its going-out-of-business sales at all 463 of its stores on Wednesday after failing last month to find a bidder in a bankruptcy auction willing to keep it going as a smaller retailer, according to court documents filed this week.
The debt-laden retailer filed for Chapter 11 protection in federal bankruptcy court in Delaware in March, saying initially that it would only close about 140 of its stores. But earlier this month, The Sports Authority gave up hope it could re-organize under bankruptcy protection, opting instead to auction itself off for whatever it could get. The company ultimately was bought by liquidators, Hilco Merchant Resources, Gordon Brothers Retail Partners and Tiger Capital Gro…
Read the full article at: http://fortune.com/2016/05/24/sports-authority-dicks-liquidation/