Sports Authority declares bankruptcy, lays off 3,400 employees and considers selling
 

Sports Authority declares bankruptcy, lays off 3,400 employees and considers selling itself
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NEW YORK — Sports Authority is filing for Chapter 11 bankruptcy protection to try to fix its business as it pays off $1.1 billion in debt.*

The retailer said Wednesday that it plans to close or sell about 140 stores and two distribution centers, in Denver and Chicago.*

Sports Authority stores will remain open and run on **rmal schedules during the Chapter 11 process.*

The company is also laying off 3,400 employees, or about one-third of its staff, all of whom were **tified on February 10, according to the Denver Post.*

"We wanted to give them plenty of time to find their next opportunity, whether it's in the company, or wherever else it is," Foss said. "It is hard to close a store or a distribution center, or right-size a corporate headquarters. We try to mitigate the impact on people as much as possible." Read more...


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