Sports Authority plans to begin liquidation sales as soon as Friday at about 140 stores that are set to close as part of its Chapter 11 bankruptcy.
The Englewood, Colo.-based chain — owned by Los Angeles-based private equity firm Leonard Green & Partners — filed for bankruptcy Wednesday, citing $1.1 billion in debt and saying that its sales had slumped after it failed to keep up with consumer trends.
Nearly one-third of the retailer’s locations will begin liquidation sales within days.
The list includes 25 stores in Texas, 19 in California, 18 in Florida and 11 in Illinois.
The rest could be sold to other retailers or liquidators as the company is currently negotiating with prospective suitors.
