sports authority liquidating holdings

[shockwave rider]

Looks like we lose our SA store after all.

http://www.latimes.com/business/la-fi-sp...story.html

[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.

[shockwave rider]

quote:

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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."

[Carey]

A little further into the meat of the article
""It has become apparent that the debtors will not reorganize under a plan but instead will pursue a sale," Klyman told Judge Mary Walrath at a hearing in U.S. Bankruptcy Court in Wilmington, Del."
So that looks like their HOPE is to sell their assets (i.e. stock & stores) to a buyer....so still too early for a death keel...but if no buyer or no buyer interested in Hilo/Hawaii market...could be close to the end...

[DTisme]

This is what happens when you sell things for list price. WAY too expensive in there for me. Altho, I have bought in there on occasion when I couldn't find what I wanted anywhere else. Great selection of athletic shoes, for instance, which we really don't have anywhere else in town (that i know of).

note to DBisme: Our user IDs are awfully close. Hopefully no one will confuse us.

[macuu222]

That's where Amazon prime comes in handy. You can get just about anything they sell for about 1/3 less and free shipping

[pahoated]

It was surprising to see a Blockbuster in Hilo a few years ago, after almost all of them had been closed on the mainland for a couple years. Even bankruptcies slow down to island time here.

"Aloha also means goodbye. Aloha!"

[terracore]

Sears is next.

[EightFingers]

quote:

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Originally posted by terracore

Sears is next.

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Nope. Radio Shack.

[terracore]

Their smaller size and mall rent payment may allow them to hemorrhage longer. Last I was in there they looked to be mainly a cell phone services retailer.