Bankruptcy Filing for Sports Authority Imminent, Bloomberg Says
That would enable to struggling chain to reject leases in markets where it is weak, especially in the Southeast where both Academy and Dick’s are operating. Part of the restructuring plan under discussion with lenders would reportedly involve closing some 200 of the 450 stores that chain is now operating, Bloomberg said.
Protection in the courts seems like the only real viable alternative for TSA at this point, given its heavy debt load and the increasing competitive pressures of the market. Vendors have certainly been discussing the possibility for some time, even as they felt compelled to continuing shipping such a ... Log in to view full article.