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 US mega sporting goods chain finally files for Chapter 11
Retail | 03.03.2016

The Sports Authority

US mega sporting goods chain finally files for Chapter 11

US mega sporting goods chain finally files for Chapter 11. The Sports Authority Store. (Quelle: BrokenSphere)
Crunch time: Up to 140 doors of U.S. sporting goods retail chain The Sports Authority might soon be closed. If no new investors come forward by the end of April, the company may well be shut down.
Bild: BrokenSphere
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The Sports Authority, one of the United States‘ leading sporting goods retail chains, sought protection under Chapter 11 of the U.S bankruptcy code on March 2. As reported, corresponding market rumors have been circling for a couple of weeks. In early February, the news broke that TSA was having troubles meeting some its financial liabilities toward creditors.

The company says that up to 140 out of altogether more than 450 outlets might be closed soon. The same goes for two distribution facilities in Denver and Chicago. The management is looking for investors who are willing to step in. It was said, however, that the search for fresh financial resources needs to be successful by the end of April – or the lights might go out entirely at the retailer.

The files for the bankruptcy procedures include a detailed list of creditors. When it comes to vendors, the list reads like a who’s who of sporting goods industry giants. The top creditor is Nike with unpaid invoices of 47.9 million U.S dollars, followed by Asics (23.3 million dollars) and Under Armour (23.2 million dollars).

Markus Huber (Quelle: ISPO)
Article by Markus Huber, editor
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