Sports Authority Goes Completely Bankrupt, Will Close Maine Mall Store
Sports Authority has been a staple of the Maine Mall for several years now but as soon as this summer, things will be different. According to Forbes, Sports Authority announced yesterday that it was filing Chapter 11 bankruptcy due to the fact the company is carrying over $1 billion in debt.
Back in March, Sports Authority attempted to delay a potential bankruptcy by liquidating 140 stores nationwide. However, closing the stores proved to be a futile attempt as the company continues to hemorrhage money. The company will now attempt to liquidate all inventory and close stores as soon as possible.
That's likely to mean good things for opportunistic consumers here in Maine. Liquidating inventory means tremendous deals on sports good equipment, whether its in season or not. As of now, Sports Authority has not announced how drastic the liquidation will be. Stores could stay open for months if need be.
Are you planning on making a mad dash to the Maine Mall to great deals at the Sports Authority?
Also, what store would you like to see replace Sports Authority in the mall?