Sports Authority Goes Bankrupt

cristiano-ronaldo-461-steve-nash-phoenix-suns-playmaker-nba-quarterback-2012
CNN Money reported that Sports Authority will be closing 140 stores as they are bankrupt.

The store closings will happen within the next three months. They plan to borrow up to $595M to fund its operations while in bankruptcy.

The bankrupt rumor started in January as they missed a $20M debt payment.

Last time a large retailer went bankrupt was Radioshack a year ago, then Borders in 2011 and Circuit City in 2008.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s