Sports Authority's Bankruptcy Filing Could be Mere Days Away

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Sports Authority's Bankruptcy Filing Could be Mere Days Away

By Tim Denman - 02/24/2016
Numerous media outlets are reporting that the Sports Authority could be filling for bankruptcy as early as March.
 
CNBC reports that the sporting goods retailer missed a $20 million coupon payment in January, triggering a 30-day grace period to work out a compromise with creditors, and may be turning to bankruptcy to get some relief from its debts.

If, and most likely when, Sports Authority files from bankruptcy relief it is reported that nearly half of the retailer's 450 stores across the United States will likely be set for closure.

Currently the retailer is trying to come to terms with creditors for a loan to get the company through bankruptcy and begin the liquidation of 150 to 200 of its stores.
Sports Authority is owned by private equity firm Leonard Green & Partners, who has yet to address the swirling rumors surrounding its investment.