Just in time for Father’s Day and Memorial Day sales, Sports Authority is holding its going-out-of-business sale. Beginning Thursday, the retail chain will offer discounts on merchandise including shoes, clothing, athletic gear and accessories on its website.
Brands in the mix include footwear from Under Armour, Nike, Adidas, Asics and Brooks. Sports Authority gift cards will also be honored through June 27. Store fixtures and equipment will also be for sale.
Currently, Sports Authority is offering 30% off all merchandise both in stores and online. Free shipping is also being offered on purchases totalling over $39.
“Words cannot adequately express the disappointment we feel with the need to shut down our stores,” said Sports Authority CEO Michael Foss. “We pursued both a plan of reorganization as well as a sale of our business, but we were unsuccessful in reaching an agreement that would have allowed Sports Authority to continue to operate.”
When Sports Authority filed for bankruptcy in March, the company said it would close about 140 of its 463 stores as it worked toward restructuring the business. In April, the company abandoned its restructuring plans and began looking for buyers to save the 360-plus remaining stores. It seems those efforts have also failed, leading to the impending closure of all stores.
Watch on FN
Increased competition from e-commerce players such as Amazon and fast-growing sporting goods retailers such as Dick’s Sporting Goods Inc. had pressured Sports Authority in recent months.
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