Sports Authority files for Chapter 11

By Lynette Carpiet

Retailer points to online shopping and changing consumer buying patterns for restructuring.

ENGLEWOOD, Colo. (BRAIN) — National sporting goods retailer Sports Authority has filed to restructure under Chapter 11. The move has been several months in the making, and reports of the company’s pending bankruptcy had come out in recent days.

The retailer said it expected the restructuring would provide access to $595 million in financing. That along with cash from operations would provide liquidity to …read more

Via:: Bicycle Retailer and Industry News