Three Sports Authority stores in CT are closing - WFSB 3 Connecticut

Three Sports Authority stores in CT are closing

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Sports Authority filed for bankruptcy early Wednesday and said it will close 140 stores, nearly a third of its total. The bankruptcy has been looming since January, when the company disclosed that it had missed a $20 million debt payment. (CNN) Sports Authority filed for bankruptcy early Wednesday and said it will close 140 stores, nearly a third of its total. The bankruptcy has been looming since January, when the company disclosed that it had missed a $20 million debt payment. (CNN)
NORTH HAVEN, CT (WFSB) -

On Wednesday, Sports Authority filed for bankruptcy and said it will close 140 stores, which is nearly a third of its total.

The bankruptcy has been looming since January, when the company disclosed that it had missed a $20 million debt

On Thursday, it was revealed that the Sports Authority stores in North Haven, Bridgeport and Danbury are among those closing. Right now there are six Sports Authority stores in Connecticut.

The store closings will take place over the next three months. The bankruptcy filing will allow it to break leases for money-losing stores.

The company has 14,500 full- and part-time employees at its 450 stores and offices, according to the bankruptcy filing.

It also disclosed more than $1 billion in liabilities and assets valued between $500,000 and $1 billion.

The company was once the largest sporting goods retailer. But it has struggled with the debt load associated with a leveraged buyout a decade ago. It has been overtaken by Dick's Sporting Goods, which has grown by providing a higher end shopping experience.

The North Haven store is located on Universal Drive North, the Danbury store is located on Sugarhollow Road, and the Bridgeport store is located on Main Street.

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