Seven local Sports Authority stores to close
Sports Authority announced Wednesday it has filed Chapter 11 bankruptcy and will close 140 stores nationwide as a result - roughly five of which are located in the greater San Fernando Valley region.
USA Today, citing same court papers, published the full list of locations, adding that Dick's Sporting Goods might have an interest in buying some of the properties.
The two closing locations in the area are located on East Shelby Drive in Collierville and on Wolfcreek Parkway in the Wolfchase area. This phase is expected to be completed in the following three months.
Sports Authority owns and manages 463 stores in 41 states and in Puerto Rico. It will honor warranties on items purchased in its stores or online. Sports Authority will continue to operate its website. The list includes the Bowles Winter Sports Outlet, at 8055 W. Bowles Ave., in addition to the previously disclosed Denver Sports Castle, 1000 Broadway, and the Arapahoe location at 9000 E. Peakview Ave., Greenwood Village.
Matt Powell, a sports industry analyst with the NPD Group, said that debt made it hard for Sports Authority to invest in its stores and online offerings to capitalize on the robust market for sporting goods merchandise.
Sports Authority will close 19 stores in California as part of its bankruptcy proceedings.