Sports Authority closing all stores

AP file photo

(WFLA) – Sports Authority announced that it will be closing the doors of all its retail stores nationwide.

CNN reported that the sporting goods retailer filed for Chapter 11 bankruptcy protection in March. Then it indicated that it would close 140 stores and two distribution centers,

It recently notified the bankruptcy court that it would not consider the reorganization but would sell the assets instead.

According to CNN, the company carries over $1 billion in debt.

It will liquidate all stores and close down all the operations in the upcoming months.

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