Sports Authority Files for Chapter 11

[thetrailboss]

http://www.angrysnowboarder.com/sports-authorities-chapter-11-bankruptcy/

http://www.sportsauthority.com/Land...EY_Ch11Announcement_030216_LRN_0_NA_TXT_NPCNS

http://www.forbes.com/sites/alikoca...rced-to-confront-radical-shifts/#2ff38421634c

http://www.usatoday.com/story/money/2016/03/03/sports-authority-store-closure-list/81268900/

Looks like 140 stores are getting axed. Yikes. I like our local one...they have some good stuff at good prices. Looks like that one is going to remain in place.

The USA Today story (video) mentions that they "missed out" on the fitness boom and that probably cost them revenue.

 

[hammer]

Store in Nashua NH is closing, they are already having sales if you want to call them that. Never saw the place so busy, however.

 

[Rushski]

Sports Authority

Since they've filed for Chapter 11, they're closing some stores.

The Nashua store is one that is going away. Thought they would keep Nashua open and close Amherst, but guess the competition in Nashua is tougher to compete.

Went in quickly on Sunday and they still have plenty of ski/snowboard gear from skis, boards, boots, helmets, goggles, etc...

Know they generally don't carry the highest level of stuff and sometimes they have their own models which are sometimes tough to research. But did see a pair of K2 Shreditor 92s. Don't think they mess with a common model that's available elsewhere.

Not sure of prices, but sure they already had everything marked down as they transition out of Winter stuff earlier than most...

 

[hammer]

We went in on Saturday...non clearance items were all of 10% off, didn't see any discounts on ski gear but I was mainly looking at goggles. Interesting how most of the fitness gear was completely cleared out...guessing they decided to move that merchandise out, can't imagine it was bought up already.

As minimal as the discounts were there were still crowds and long lines for the checkout. Perception vs. reality I guess.

 

[drjeff]

We went in on Saturday...non clearance items were all of 10% off, didn't see any discounts on ski gear but I was mainly looking at goggles. Interesting how most of the fitness gear was completely cleared out...guessing they decided to move that merchandise out, can't imagine it was bought up already.

As minimal as the discounts were there were still crowds and long lines for the checkout. Perception vs. reality I guess.

Since it's not a complete, chain wide closing, my guess is the stuff that they know they can sell, at a profit, such as fitness gear, they're going to move to store that will remain open to help bolster their inventory.

I'm guessing that suppliers might not be quite as liberal with their purchasing term when selling to Sports Authority now given their CH 11 status as they used to be.......

 

[BenedictGomez]

Store in Nashua NH is closing, they are already having sales if you want to call them that. Never saw the place so busy, however.

We went in on Saturday...non clearance items were all of 10% off, didn't see any discounts on ski gear but I was mainly looking at goggles.

As minimal as the discounts were there were still crowds and long lines for the checkout. Perception vs. reality I guess.

This happens whenever a chain declares bankruptcy. People FLOOD to the stores on the belief that they will score insane deals.

The reality could not be further from the truth.

There is little incentive for a big box store to heavily discount on closing, despite the fact that many people believe this. And it's an amazing thing to watch, once those giant red "LIQUIDATION" and "EVERYTHING MUST GO" signs go up, people start buying stuff like crazy, even though it's not a great deal and/or could still be bought cheaper online at Amazon or perhaps even at Walmart etc...

It's a fascinating study in buyer psychology.

 

[skiNEwhere]

So much for sports authority field (at Mile high stadium)

 

[Hawkshot99]

So much for sports authority field (at Mile high stadium)

Is it on clearance as well?:grin: