Thursday, July 14, 2016

Sports Authority cuts deal with lenders to avert abrupt shutdown

Image result for sports authority going out of businessTo keep its nationwide bankruptcy liquidation from crashing to a halt, Sports Authority Holdings Inc. has cut a deal with senior lenders that portends bad news ahead for landlords and suppliers to the failed sports retailer.

Going-out-of-business sales are still in full swing at many stores, as liquidators sell off the last bicycles, skateboards and rest of the gear and apparel still on the shelves. Sports Authority auctioned off its intellectual property, which is going to high-bidder Dick’s Sporting Goods, for $15 million, and some leases.. . . more

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