Sports Authority is benching its own plans to stay in business. The sports retailer had held out hope it could get away with closing about 140 of its stores and stay in business.
But now Sports Authority will close all 460 of its stores, with clearance sales running through the summer. The Englewood, Colorado-based company said it will start discounting sneakers, clothing and other goods this week, likely running sales until the end of August.
The company told the bankruptcy court that it plans to sell its store leases in an upcoming auction.
As of March, it had about 14,500 employees.
A representative for privately held Sports Authority declined to comment.
Sports Authority’s decline came as shoppers are increasingly more likely now to head online than to their local mall. Mall staples Aeropostale and Pacific Sunwear have also filed for bankruptcy protection this year.
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