Sports Authority to face possible bankruptcy

[store215]

http://www.10news.com/news/sports-authority-may-be-headed-for-bankruptcy

AN DIEGO -- Sports Authority may file for bankruptcy after the sporting goods store missed a $20 million debt payment a month ago.

The company says it is negotiating with lenders, but credit rating experts expect the store to default on all of its loans.

Retail experts say it is likely the chain will have to close about half of its 450 stores.
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I can't say I'm too surprised. How many (overpriced) big box sporting/outdoor stores do you really need? But on the other hand, they just went on a huge merger/moving/expansion in the Philly area over the last 7 years or so...what a waste.

[Hudsons81]

Hopefully they don't end up having to close the Great Lakes Crossing Outlets location in Auburn Hills, Michigan. That would return a major vacancy to that place. Remember how many years the former Gameworks languished until Seaworld finally moved in?

I also hope they don't close the Dearborn, Michigan location. That location is the last original major tenant of what was originally a "true Kmart Plaza"-the Super Kmart is now a Walmart, Builder's Square is now a Home Depot, the Borders sign is still there and still lights up each night and there was at least one other Kmart-owned store that had a location there and it's now an At Home store.

[store215]

I also hope they don't close the Dearborn, Michigan location. That location is the last original major tenant of what was originally a "true Kmart Plaza"-the Super Kmart is now a Walmart, Builder's Square is now a Home Depot, the Borders sign is still there and still lights up each night and there was at least one other Kmart-owned store that had a location there and it's now an At Home store.

Looks like there is an OfficeMax in that center too, which was also Kmart owned at the time this store would have opened. Although that's another chain on borrowed time at this point.

[Hudsons81]

I also hope they don't close the Dearborn, Michigan location. That location is the last original major tenant of what was originally a "true Kmart Plaza"-the Super Kmart is now a Walmart, Builder's Square is now a Home Depot, the Borders sign is still there and still lights up each night and there was at least one other Kmart-owned store that had a location there and it's now an At Home store.

Looks like there is an OfficeMax in that center too, which was also Kmart owned at the time this store would have opened. Although that's another chain on borrowed time at this point.

You mean the former Office Depot just west of the center (and across the border within Detroit) that's now Planet Fitness?

EDIT: Checked and it appears At Home is a former Pace Warehouse-dunno why Sam's Club never acquired that one, they could've eventually been adjacent to Walmart.

[store215]

You mean the former Office Depot just west of the center (and across the border within Detroit) that's now Planet Fitness?

EDIT: Checked and it appears At Home is a former Pace Warehouse-dunno why Sam's Club never acquired that one, they could've eventually been adjacent to Walmart.

No, I was looking on Google Maps and there is (or was?) an OfficeMax to the right of the Walmart

[mvcg66b3r]

I guess the World Champion Denver Broncos need to find a new naming-rights partner for their stadium.

Hmm... Smashburger Jollibee Field at Mile High?  ::)

For those unfamiliar, Smashburger is a fast-food chain based in Denver. It's being bought by Filipino giant Jollibee for $99 million.
http://www.rappler.com/business/business-deals/109085-jollibee-smashburger-stake

[buzz86us]

they closed where I was.. right when i filled my paintball card to get the free refill

[ynkeesfn82]

Milford and Manchester Connecticut both closed several years ago. Both are now locations of Hobby Lobby.

[Hudsons81]

Taylor, MI closed about 15 years ago and is now the Metro South megachurch.

[ynkeesfn82]

They filed bankruptcy this morning and announced they're closing 140 stores.

http://www.wfsb.com/story/31365031/sports-authority-is-bankrupt-and-closing-140-stores

[retailisking]

Sports Authority has 87 leases from closing locations up for bid:
http://blogs.wsj.com/moneybeat/2016/03/02/heres-the-list-of-sports-authority-stores-on-the-block/

[Hudsons81]

Sports Authority has 87 leases from closing locations up for bid:
http://blogs.wsj.com/moneybeat/2016/03/02/heres-the-list-of-sports-authority-stores-on-the-block/

I'm surprised the Clinton Township, MI store is still holding in there. The strip mall it's in has most of the parked cars concentrated around their Target store.

[ynkeesfn82]

FOX 61 says this is the complete list. State by State.

http://fox61.com/2016/03/03/here-are-the-sports-authority-stores-that-are-closing-3-in-connecticut/

I think the one in North Haven, CT replaced the one in Milford, CT that is now Hobby Lobby.

[standa]

FOX 61 says this is the complete list. State by State.

http://fox61.com/2016/03/03/here-are-the-sports-authority-stores-that-are-closing-3-in-connecticut/

I think the one in North Haven, CT replaced the one in Milford, CT that is now Hobby Lobby.

The North Haven, CT store opened around the same time as the Milford, CT one (which closed without a replacement). Actually the North Haven location was at first in another shopping center near the current store. The previous Sports Authority space is now Petsmart and DSW.

[Zayre88]

Nashua NH and Auburn Maine closing:

http://rstatic.sportsauthority.com/locations/1_112_164_Nashua.jpg

http://rstatic.sportsauthority.com/locations/1_112_066_Auburn.jpg

[TheFugitive]

Chap. 11 reorg plan has failed, they are going out of business.

http://www.denverpost.com/business/ci_29815870/sports-authority-abandons-hope-reorganizing-exiting-bankruptcy

[store215]

Chap. 11 reorg plan has failed, they are going out of business.

http://www.denverpost.com/business/ci_29815870/sports-authority-abandons-hope-reorganizing-exiting-bankruptcy

No real surprise here....there is just no need for that many sports-specific stores in 2016...there have been talks that Dick's and smaller regional chains (Academy) may swoop in and pick up some of the locations. But I'm seeing a lot of locations that will likely sit empty in my area...they stupidly went on a crazy expansion/remodeling spree over the last 10 years, leaving some locations right on top of Dick's locations.

[mixedday]

Dick's was more upscale of the two. I don't know why Sports Authority failed - maybe it was over-expansion. Also, the target shopper, maybe teenagers-young adults, might more inclined to buy online possibly, and not limited to brick and mortar sports stores anymore. Dick's probably is able to capture the spectrum of various shoppers better, from young to old shoppers, and richer to middle-class.

Modell's might benefit from the loss of the competitor, but it's stores are smaller, and I don't think the chain will expand too much.

In Cherry Hill, NJ, Sports Authority joined a center with Target and Kohl's, but it took a building that was a free-standing building. It meant one couldn't walk from either of the two stores (Target or Kohls) to Sports Authority without walking through a parking lot, which is not fun during inclement weather or even in general. It's no surprise that the Cherry Hill store is being closed.

Dick's, however, is in a larger plaza with Wegmans and Best Buy, and one can easily park at one store and walk to one of the three stores. There are more stores in this plaza as well. Just an example of better site selection done by Dick's and not by Sports Authority.

I wonder if Academy Sports + Outdoors will cherry pick some of the best Sports Authority sites and open in the Northeast. Locations in thriving big box centers where Sports Authority was between other A list tenants probably will be sought. Some Northeast based people might have seen the chain when visiting Florida.

[danfifepsu]

Chap. 11 reorg plan has failed, they are going out of business.

http://www.denverpost.com/business/ci_29815870/sports-authority-abandons-hope-reorganizing-exiting-bankruptcy

of MANCHESTER NH, they dont have a Dicks Sporting Goods and NOW will have no Sporting Goods store chain when Sports Authority closes, what will happen?

[Zayre88]

Dick's will open a store in Manchester for sure

There's also Modell's in Manchester although these stores are much smaller.

Chap. 11 reorg plan has failed, they are going out of business.

http://www.denverpost.com/business/ci_29815870/sports-authority-abandons-hope-reorganizing-exiting-bankruptcy

of MANCHESTER NH, they dont have a Dicks Sporting Goods and NOW will have no Sporting Goods store chain when Sports Authority closes, what will happen?

[danfifepsu]

Dick's will open a store in Manchester for sure

There's also Modell's in Manchester although these stores are much smaller.

Chap. 11 reorg plan has failed, they are going out of business.

http://www.denverpost.com/business/ci_29815870/sports-authority-abandons-hope-reorganizing-exiting-bankruptcy

of MANCHESTER NH, they dont have a Dicks Sporting Goods and NOW will have no Sporting Goods store chain when Sports Authority closes, what will happen?

why no Dicks Sporting goods in Manchester yet???? And how come the one in Portsmouth / Newington was the first one in NH?

[retailisking]

why no Dicks Sporting goods in Manchester yet???? And how come the one in Portsmouth / Newington was the first one in NH?

That's a good question, as stores usually come to the Golden Triangle (Manchester/Nashua/Salem) before they come to the Seacoast, if they do at all.

[store215]

Dick's will open a store in Manchester for sure

There's also Modell's in Manchester although these stores are much smaller.


I can't really see how Modell's sticks around either...over 80% of their merchandise seems to either be overpriced clothing or junky T-shirts, with very basic sporting goods filling in the rest. I never see more than 5 or so customers in my local one at any given time.

[BillyGr]

I can't really see how Modell's sticks around either...over 80% of their merchandise seems to either be overpriced clothing or junky T-shirts, with very basic sporting goods filling in the rest. I never see more than 5 or so customers in my local one at any given time.

Perhaps some of that comes from their having had general discount stores for a number of years?

[Hudsons81]

This will also leave quite a huge vacancy at Great Lakes Crossing Outlets in Auburn Hills, Michigan. See how many years passed between the closure of the Gameworks there and the opening of Sealife Michigan in that same spot? In contrast it only took a very short time to convert a closed Jeeper's at that same mall to a Legoland Discovery Center.

[Zayre88]

No more Maine stores on Store Locator, and only Amherst in NH..

Final days....

http://stores.sportsauthority.com/

[danfifepsu]

No more Maine stores on Store Locator, and only Amherst in NH..

Final days....

http://stores.sportsauthority.com/

what of ones in Alaska what will happen w that?

[Zayre88]

Well after a quick visit, i'm able to confirm that stores in Nashua, Amherst and Manchester are all closed.

They're empty and all fixtures are gone.