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New York /Â AP
Sports Authority, which filed for bankruptcy protection three months ago, is shuttering all 460 of its stores after it was unable to adapt to consumers’ move online.
The sports retailer had originally only planned to close about 140 stores, but in a court document this week it outlined plans to shutter all of them.
The Englewood, Colorado-based company said it will start discounting sneakers, clothing and other goods next week until the end of August.
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.
The company told the bankruptcy court that it plans to sell its store leases in an upcoming auction.
According to reliable official sources, as of March, it had about 14,500 employees.
A representative for privately held Sports Authority declined to comment.
Sports Authority Inc. is an American sports retailer. It is headquartered in Englewood, Colorado, and operated more than 460 stores in 45 US states and Puerto Rico under the Sports Authority name. The company’s website is on the GSI Commerce platform and supports the retail stores as well as other multi-channel programmes.
The Sports Authority, Inc. opened its first store in November 1987 in Fort Lauderdale, Florida. In 1990, Kmart acquired the company. Five years later, The Sports Authority had expanded to 136 stores in 26 states, and was spun off from parent Kmart.
ts headquarters were in Lauderdale Lakes, Florida.