Published on May 24th, 2016 |0
Liquidation sales to precede closing of Buckhead Sports Authority
The company filed for bankruptcy in March and announced it would close 140 stores. The company reportedly had hoped to simply close some of its underperforming stores and reorganize its business.
But last week, the company announced it had failed to find a buyer for those stores, according to CNN Money. In a bankruptcy auction on Monday, a consortium of liquidators including Tiger Capital Group, Hilco Global and Gordon Brothers purchased the retailer’s merchandise and other inventory and plans to sell everything off.
Sports Authority was at one time the nation’s largest sporting goods retailer. Now, going-out-of-business sales could begin as soon as May 25, according to the Atlanta Journal-Constitution.
“Sports Authority and its predecessor companies have been serving the sporting goods needs of our customers since 1919. It is with great sadness that we are intending to close all of our stores by the end of August,” CEO Michael Foss wrote in emails to the store’s customers.
“We will be holding store closing sales at all of our locations that will allow you to take advantage of big discounts on great brands,” Foss added.