Sports Authority Files For Chapter 11 Bankruptcy Protection

March 2, 2016 12:57 PM

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Sports Authority has filed for Chapter 11 bankruptcy protection, looking to restructure its debt and close a number of stores to try to regain its financial foothold.

In its restructuring, Sports Authority plans to access nearly $600 million in debtor-in-possession financing and close or sell approximately 140 stores and two distribution centers. The company currently operates more than 460 locations.

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