say goodbye to Sports Authority...

[ericlp]

http://khon2.com/2016/03/02/sports-autho...-stores-2/

I bet Hilo is on the list....

But maybe.... Some good deals if your in the market for a treadmill or something.

[HereOnThePrimalEdge]

It doesn't look like any stores in Hawaii will be closed:
http://blogs.wsj.com/moneybeat/2016/03/0...the-block/

"How we spend our days is, of course, how we spend our lives." -Annie Dillard

[leilanidude]

I called the bankruptcy on Feb 9th.

No, they aren't closing just yet... Give it a month or so until the bankruptcy proceedings kick their demise into high gear. They already missed a $20 million debt payment.

http://punaweb.org/Forum/topic.asp?TOPIC_ID=21978

Way too much debt.

[Kapoho Joe]

Wasn't this Mitt Romney's great recovery effort? Just another vulture capitalist.

[leilanidude]

http://www.foxbusiness.com/markets/2016/...ction.html

Snippet:

"The company, which operates about 450 stores, has agreed to take up to $595 million in bankruptcy financing from senior lenders including Bank of America, Wells Fargo, J.P. Morgan Chase & Co. and TPG, the people said.

As a condition of the loan, Sports Authority would close and clear out dozens of stores after filing for chapter 11, some of the people said. The company would need to close the rest of its store base by the end of April if it can't find a buyer that would put more money into the business, they added. "

[Kapoho Joe]

The Sports Authority was started by Romney's Bain Capital and a handful of other venture capital firms in 1987 and was the first company to create a warehouse-style shopping store for sports enthusiasts.

After a successful start, The Sports Authority was sold to Kmart in 1990 and they merged their own sporting chain stores into the Sports Authority model. Today, the company has over 450 locations and 7,000 employees.

[leilanidude]

After a successful start, The Sports Authority was sold to Kmart in 1990 and they merged their own sporting chain stores into the Sports Authority model. Today, the company has over 450 locations and 7,000 employees.
----------

Sounds like you cannot blame its failure upon Romney?

[terracore]

Sport's Authority was financed by a venture capital GROUP of which Romney's Bain capital was a participant. Was sold to Kmart who later went bankrupt and was bought by Sears, who is now circling the toilet itself.

I'm not sure why somebody wanted to tie politics into this since Sports Authority started in 1987 and Romney's political career started 15 years later. Bain Capital also invested in Dominos pizza, I don't see anybody making political statements about hot pizza delivery. But let me be the first: I wish we had pizza delivery in Orchidland!

[shockwave rider]

http://www.hawaiitribune-herald.com/news...emain-open

[tada]

Speaking of Kmart they got Super synth blend motor oil for$2 a quart!!

http://www.bobistheoilguy.com/forums/ubb...b=showflat&Number=1774108