Sports Authority Is Expected To Shut Down All Stores And Be Digitally Destroyed.

Although this is the era when sports are red, but not all sports brands are able to ride on the east side.

Declared bankruptcy in February of this year.

Recently, there has been new news.

It is reported that foreign media reported that Sports Authority announced that it would close all its stores, and there were altogether 460 stores.

At present, its official website has already started comprehensive.

The discount rate will reach 50 percent off. In addition, all categories of discount promotions will be closed by the end of August.

The spokesman for Sports Authority did not comment on this.

The main reason is that after being reorganized, it is still impossible to find out.

In the era of survival, so Sports Authority chose to close shop and go out of nowhere.

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The main suppliers of The Sports Authority include Asics, Easton Baseball/Softball, Wilson, Hi-Tec Sports, Implus Footcare, Sports, Easton, and so on.

Sports Authority's lawyer Robert Klyman says dozens of suppliers have asked them to stop selling their products, "which will undoubtedly be a huge blow to the Sports Authority attempt to quickly restructure debt."

Before April 28th, if the company can't find buyers, it can really shut down.

Because of its debt burden, the 463 chain store is closing its 140 stores and has agreed to obtain 5.95 billion in bankruptcy financing from some senior lenders such as Bank of America, Welsh bank, J.P. chase and Dezhou Pacific Group.

In the next few weeks, unless the buyer takes over, the company can only be forced to close, people familiar with the matter said.

In order to meet the requirements for obtaining loans, sports authorities can only close or sell some stores.

In addition, if no buyers are willing to invest more in their businesses in the near future, the remaining stores will also be closed by the end of April.

Sports Authority was once the best choice to buy sporting goods, but due to the impact of e-commerce and poor operation, the company's debts had accumulated to $1 billion 100 million.

The company announced that it had filed for bankruptcy protection in accordance with the eleventh chapter of the bankruptcy law.