Sports Authority files for Chapter 11 bankruptcy - sportstextiles: Lea SportsTextiles

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Sports Authority files for Chapter 11 bankruptcy

03/03/2016
US sportswear retailer Sports Authority has filed for bankruptcy and is selling 110 of 460 stores, according to reports.

The chain is headquartered in Colorado, and operates in 45 US states and Puerto Rico.

“We are taking this action so that we can continue to adapt our business to meet the changing dynamics in the retail industry,” CEO Michael Foss said in a statement.

“We intend to use the Chapter 11 process to streamline and strengthen our business both operationally and financially so that we have the financial flexibility to continue to make necessary investments in our operations.”

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