04-27-2016, 06:19 AM
quote:
Originally posted by DBisme
The article states, The sporting goods chain filed for Chapter 11 bankruptcy in March with plans to close 140 of its 463 stores and to reorganize its remaining business after reaching agreement with its creditors. It makes no mention which stores will be closed.
You need to read more than just the headline.
I did read all of the article, they originally went the chapter 11 route in March, but today announced they are instead liquidating their assets, which means closing all stores.
From the opening line in the article:
"Sports Authority reportedly has given up on reorganizing under bankruptcy protection and continuing its business, deciding instead to liquidate its assets."