As Predicted…

Sports Authority filed a new bankruptcy filing stating it will be closing all of its stores, including the 8 located here in Minnesota. Fortune had reported back in March that 140 stores would be closed and hoped to find a buyer for the remaining 300+ stores. That didn’t happen, finding only buyers for the furniture and inventory assets. Sports Authority clearly struggled to compete against the big boxes, in a corporate environment of high debt load from a leveraged buyout 10 years prior.