It looks like we’ve reached the end of the line for Sports Authority, which filed Chapter 11 last month but now appears to be heading toward liquidation. At a hearing this week in U.S. Bankruptcy Court, the company’s attorneys said the initial plan to close just 140 locations was no longer feasible and creditors were pressing for a sale. This news comes on the heels of last week’s bankruptcy filing for Vestis Retail Group, parent to Eastern Mountain Sports, Sport Chalet and Bob’s Stores — not to mention last year’s bankruptcies of City Sports and the locally owned Hudson Trail Outfitters. An auction for Sports Authority’s assets is scheduled for May 16th; it’s unclear whether the existing stores will remain open between now and then. So who will benefit from all these bankruptcies? Looks like Dick’s Sporting Goods is poised to snap up some prime big-box real estate.
