Sports Authority Files Chapter 11

[newtogolf]

Another big business on it's way out, intends to close at least 140 stores.  

Quote

TSA Stores, Inc. (“Sports Authority” or the “Company”), an industry leader in providing a wide assortment of quality, brand-name sporting goods, announced that today Sports Authority and several of its affiliates filed voluntary petitions to restructure under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the “Court”). In conjunction with the Chapter 11 filing, the Company expects to have access to up to $595 million in debtor-in-possession (DIP) financing. Subject to Court approval, the DIP financing, combined with the Company’s cash from operations, is expected to provide sufficient liquidity during the Chapter 11 process.

 

[SavvySwede]

 Not surprised. They were like the K-mart of sportings goods. Very dated looking and less selection than their competitors. But then what does that make Modell's?

[pumaAttack]

Don't add your name to Mile High Stadium...

Not sure how Sports Authorities are around the nation but I liked them here in Colorado.  

[newtogolf]

24 minutes ago, SavvySwede said:

 Not surprised. They were like the K-mart of sportings goods. Very dated looking and less selection than their competitors. But then what does that make Modell's?

They updated their stores here in eastern Long Island.  It's not the looks that are bad, just no real reason to go shop there. When they remodeled, they really scaled back their golf and gun departments.  Their prices on the rest of what they sell is close to list so unless it's an emergency and I need something asap I'd rather order from Amazon or eBay and pay 25% - 50% less.  

[pumaAttack]

55 minutes ago, newtogolf said:

They updated their stores here in eastern Long Island.  It's not the looks that are bad, just no real reason to go shop there. When they remodeled, they really scaled back their golf and gun departments.  Their prices on the rest of what they sell is close to list so unless it's an emergency and I need something asap I'd rather order from Amazon or eBay and pay 25% - 50% less.  

Yup, no idea how big box stores are gonna stay open.

They need to offer more in-store interactive areas.  More golf hitting bays, batting cages, hockey rinks, basketball hoops, etc.  Let people really try out the gear.  That would be the only reason to shop at a local store versus amazon.

[isukgolf]

They are shutting down the one close to me ... it did seem outdated when i went into it a couple of times.  In terms of golf, there was a GolfSmith across the street from it ...

[dkolo]

1 hour ago, newtogolf said:

They updated their stores here in eastern Long Island.  It's not the looks that are bad, just no real reason to go shop there. When they remodeled, they really scaled back their golf and gun departments.  Their prices on the rest of what they sell is close to list so unless it's an emergency and I need something asap I'd rather order from Amazon or eBay and pay 25% - 50% less.  

Indeed they did. And removed the hitting bays, stuck golf in the back corner, and continue to sell (or, rather, not sell) the same Jetspeed and X-Hot drivers from 2-3 years ago. 

[Patch]

Glad it's not "Big 5", as thats where I buy my shoes & Boots. 

Cant remember the last time I was in a Sports Authority. 

[SavvySwede]

1 hour ago, pumaAttack said:

Yup, no idea how big box stores are gonna stay open.

They need to offer more in-store interactive areas.  More golf hitting bays, batting cages, hockey rinks, basketball hoops, etc.  Let people really try out the gear.  That would be the only reason to shop at a local store versus amazon.

People would test in store and buy online. SA would only be giving up more retail space. 

[pumaAttack]

1 hour ago, SavvySwede said:

People would test in store and buy online. SA would only be giving up more retail space. 

 

Well they just gave up 140 stores worth of retail space...