DENVER, CO–Get ready to say goodbye to another brick and mortar retailer.
Sports Authority is reportedly planning to close about 140 stores and there are reports that’ll include all of their stores in Texas.
They’ve already laid off employees and missing an interest payment.
It’s only been five years since Sports Authority spent 60 million smackeroos to have its name on Denver’s Mile High Stadium for 20 years.
The company’s CEO was out just a few days later. The company says the two events weren’t related. Who knows? But a $3.6 million payment is due in six months.
They’re not the only brand name company in trouble.
A headline in Forbes says, “Quarterly Loss Says Sears is a Sinking Ship.”
Yeah, it’s been a long time since that iconic catalog made Sears a household name.
And they’ve got a lotta company.
247WallSt.com says a lot of companies will disappear this year.
Well-known names like Office Max and American Apparel.
Fort Worth’s own Radioshack is on their list.
They’re all predicted to go the way of Borders Books.
But then, a few years ago, everyone was predicting doom and gloom for JCPenney and Best Buy.
Guess what. They’re still here!
We’ll have to watch and see if Sports Authority can turn things around and survive through that 20-year contract for Mile High Stadium.
[A spokesperson for Sports Authority contacted NewsFix after this story was initially published and confirmed that reports the company had filed bankruptcy were incorrect. ]