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Sporting goods retailer assets to hit auction, store closings loom

May 3, 2016

Sports Authority is on its last leg of retail as it decided to sell off assets following a failure to reorganize under a bankruptcy action.

The company is pursuing a sale, according to Forbes, as it moves to sell assets at auction May 16.

The retailer will likely shutter all of its 450 stores. Forbes stated the retailer is shouldering more than $1.1 billion of debt.