After declaring bankruptcy in early March, athletic apparel and gear chain Sports Authority will liquidate its assets, reports The Los Angeles Times. The company was originally considering a reorganization plan to keep the brand alive, but will instead auction it off, potentially in pieces. Rumors were circulating for the past few months that the retailer was at high risk of defaulting on a $300 million loan that is due in May 2017.
Sports Authority opts for liquidation after declaring bankruptcy
