It is official, as of today, May 1st, Sports Authority is closing all 450 stores nationwide. Although no closing date is announced yet, from the previous closing announcement earlier in March after initial bankruptcy proceeding, those 140 stores will automatically close first. Of those 140, most of them were in Texas, as competing chain Academy owns a mass majority of the market, and specially in Illinois, only 11, which I have shopped at those stores several times. Now and until the start of fall, Sports Authority stores will be closing by the dozens.
This did not come as no surprise, coming clean after filing for bankruptcy protection in March, Sports Authority owed over 1.1 billion in debt. There was no possible way to restructuring in the time allowed for bankruptcy to go from Chapter 11 to Chapter 7 filing. For Sports Authority and West Coast twin Sport Chalet are leaving the sporting goods market by the end of the year. Sport Chalet announced they are closing all there stores, without and bankruptcy notice or anything, just came out and said "we are closing!".
We will miss these chains as options for shopping pleasure to fulfill our sporting good needs. It is a permanent trend to drive down your local block of stores and see and "Store Closing" and "Liquidation" banner hoisted up above the entrance. The online shopping game has won, although physical stores hold such strong tied with consumer affairs, we simply do not need for than one option when it comes to buying a basketball, when there is Wal-Mart, and Dick's, and Sports Authority, one of them has to call it quits, I do not agree with my statement though, I love all the different marques along the street, but its as clear as that coming from a professional analyse.
Here a snapshot of the Sports Authority website from today, featuring a Mothers Day ad, this site will soon not allow customers to shop online, as Sports Chalet did here...
Boulevard of Broken Dreams by Green Day seemed fitting for this post, so enjoy.
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