US retailer Sports Authority files for bankruptcy

March 2, 2016 1:32 PM

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US retailer Sports Authority files for bankruptcy

Englewood, Colorado-based Sports Authority has more than 450 stores and is owned by private equity group Leonard Green & Partners, which bought the company in 2006 for $1.3 billion.

Sports Authority was expected to file for bankruptcy after it missed a $20 million coupon payment on Jan. 15, triggering a 30-day grace period to work out a compromise with creditors, Reuters had reported.

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