Sports Authority to close all stores

- Another big box retail giant is closing its doors. New court documents indicate that Sports Authority will close all of its remaining stores across the country -- instead of just some of them -- after the company wasn't able to secure a buyer.

Sports Authority was once the largest sporting goods chain in the country, but it fell into financial troubles and was unable to reach an agreement with creditors and lenders earlier this year.  Instead, it was sold at auction to a group of liquidation companies.  

It's unclear when the stores will close, but it could take up to three months. In the meantime, stores will be offering going-out-of-business sales at all locations where closures had not yet been announced.

The store located on Fowler Avenue has already begun their liquidation sale, and has items for sale between 30 and 60 percent off. 

Other Bay Area stores are expected to follow suit as their closing dates near, and customers could see markdowns as much as 90 percent.

Sports Authority was founded in Fort Lauderdale in 1987. In 1990, Kmart acquired the company. In 2006, the company was bought by a private equity firm.

Sports Authority employees 16,000 people across the country.

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