Join Early Retirement Today
Reply
 
Thread Tools Display Modes
Sports Authority filing Chapter 11
Old 03-02-2016, 12:07 PM   #1
Thinks s/he gets paid by the post
 
Join Date: Jan 2011
Location: Fair Lawn
Posts: 2,940
Sports Authority filing Chapter 11

I just got automated email advising that Sports Authority has filed for Chapter 11. Email also mentioned that they identified 140 stores that will be closed.
If I'm the typical Sports Authority customer, I can see why they'd need to do this. I'm a regular customer/visitor to their stores, but my purchases are for small amounts. Coincidentally, I was there last night and the store was seemingly empty of customers.
I live near a very large shopping area (Paramus, NJ). There are 2 Sports Authority stores some 2 miles apart, but that is not unusual here for other chain stores as well. I suspect they'll close one of them.
mystang52 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 03-03-2016, 06:02 AM   #2
Recycles dryer sheets
 
Join Date: Jan 2010
Posts: 190
Sports Authority has the naming rights to the Denver Bronco Stadium. I wonder if that will continue?
jwkde is offline   Reply With Quote
Old 03-03-2016, 12:12 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Feb 2013
Location: Toronto
Posts: 3,320
Sports Authority closed its Canadian stores about 15 years ago. Got some great deals. Was sad to see them go.
6miths is offline   Reply With Quote
Old 03-03-2016, 02:13 PM   #4
Thinks s/he gets paid by the post
RetireAge50's Avatar
 
Join Date: Aug 2013
Posts: 1,660
Went to Sports Authority today. Place was mostly clothing and shoes. The actual sporting equipment was junk (plastic covered cement for weights). Good place to pick up some tennis balls though.
RetireAge50 is offline   Reply With Quote
Old 03-03-2016, 04:12 PM   #5
Thinks s/he gets paid by the post
Ready's Avatar
 
Join Date: Mar 2013
Location: Southern California
Posts: 3,995
I stopped buying things there years ago. With Amazon having such a better selection and lower prices, why make a trip to Sports Authority? They never had what I needed anyway, and their prices were the highest around.
Ready is offline   Reply With Quote
Old 03-03-2016, 05:29 PM   #6
Gone but not forgotten
imoldernu's Avatar
 
Join Date: Jul 2012
Location: Peru
Posts: 6,335
Planned or likely closings 2016

#1 Sears 50

#2 Sports Authority - all

#3 Kohl’s 18

#4 Target ? (likely, not announced)

#5 Best Buy ? (likely, not announced)

#6 Office Depot 400

#7 WalMart 154

#8 K-Mart 24

#9 J.C. Penney 47

#10 Macy’s 36

#11 The Gap 175

#12 Aeropostale 84

#13 Finish Line 150 (2 yrs)

various sources...
imoldernu is offline   Reply With Quote
Old 03-03-2016, 05:32 PM   #7
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,004
No sources = bankruptcy porn!
__________________
Numbers is hard
REWahoo is offline   Reply With Quote
Old 03-04-2016, 07:32 AM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
 
Join Date: Jan 2008
Location: NC
Posts: 21,206
Sports Authority Stumbled as Shoppers Moved Online - ABC News
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
Midpack is offline   Reply With Quote
Old 03-04-2016, 07:43 AM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
jollystomper's Avatar
 
Join Date: Apr 2012
Posts: 6,136
Looks like I better use my SA gift card quick...

The best item the one in our area has are sneakers. They usually have good basketball/running/cross-training sneakers on sale, and shoes are an item I am still reluctant to by online, I want to be sure they fit and are comfortable when I leave the store . But many of their other items seem overpriced. They also have not extensively expanded their "outdoor adventure" sections (camping, fishing, hunting, skiing, etc.) as much as Dicks Sporting Goods has.

As the article linked above mentions, "branded" team apparel is easier (and cheaper) to get online.
__________________
FIREd date: June 26, 2018 - "This Happy Feeling, Going Round and Round!" (GQ)
jollystomper is offline   Reply With Quote
Old 03-04-2016, 12:09 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
Quote:
Originally Posted by jollystomper View Post
Looks like I better use my SA gift card quick...

The best item the one in our area has are sneakers. They usually have good basketball/running/cross-training sneakers on sale, and shoes are an item I am still reluctant to by online, I want to be sure they fit and are comfortable when I leave the store . But many of their other items seem overpriced. They also have not extensively expanded their "outdoor adventure" sections (camping, fishing, hunting, skiing, etc.) as much as Dicks Sporting Goods has.

As the article linked above mentions, "branded" team apparel is easier (and cheaper) to get online.
I said goodbye to chains like Sports Authority when I moved back into the central city. These kinds of stores do not exist anywhere close. I think there is one or more in Bellevue, but even when I still owned a car I was not going to drive over there, pay a toll, spend money eating lunch etc to buy a low quality tennis racket. It was great though when I had kids at home and lived nearer these stores. I think we bought my youngest his first snowboard there, when he was very young, and 25 years and many boards later he and his missus are at Whistler now.

I'll never have better days than those.

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Old 03-04-2016, 07:11 PM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 17,205
If anybody sees when the going out of business sales start, please let me know.... I want to go and check out what they are discounting...
Texas Proud is offline   Reply With Quote
Old 03-08-2016, 12:40 PM   #12
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,004
Quote:
Originally Posted by Texas Proud View Post
If anybody sees when the going out of business sales start, please let me know.... I want to go and check out what they are discounting...
Maybe not...

Don't Waste Your Time on Sports Authority's Liquidation Sales

Quote:
A lot of shoppers believe that bad news for retailers translates to excellent deals for them, in the form of liquidation sales. Recently, Sports Authority filed for Chapter 11 bankruptcy protection, joining an ever-growing list of retailers in similar positions. It's slated to close or sell 19 stores in California and 140 stores overall. It's likely that if the liquidation sales aren't happening near you yet, they will be soon.

However, that doesn't mean shoppers should flock to these sales expecting to score major steals. As we've shown in the past, liquidation sales rarely provide notable savings.
__________________
Numbers is hard
REWahoo is offline   Reply With Quote
Old 03-08-2016, 01:50 PM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 17,205
Quote:
Originally Posted by REWahoo View Post


We went last week and it was surprising how much had already been sold and only a 10% to 30% discount...

DW did buy some clothes, but I think she could have gotten things cheaper on a sale someplace else...
Texas Proud is offline   Reply With Quote
Old 03-09-2016, 09:32 AM   #14
Gone but not forgotten
imoldernu's Avatar
 
Join Date: Jul 2012
Location: Peru
Posts: 6,335
US 2016 Store Closings - All Retail Chain Store Locations To Be Closed

Site purports to give listings of all retail store closings, including specifics on numbers, and specific locations where known.
imoldernu is offline   Reply With Quote
Old 05-26-2016, 05:17 AM   #15
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,004
Quote:
Originally Posted by Texas Proud View Post
If anybody sees when the going out of business sales start, please let me know.... I want to go and check out what they are discounting...
Once again...

Sports Authority Store Closing Sales Are Finally Here, But Don't Bother Shopping Them
__________________
Numbers is hard
REWahoo is offline   Reply With Quote
Old 05-26-2016, 05:54 AM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 13,132
I've always found stuff in Sports Authority way over priced.
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
easysurfer is offline   Reply With Quote
Old 05-26-2016, 08:52 AM   #17
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Dec 2014
Location: Huntsville, AL/Helen, GA
Posts: 6,002
The pending liquidation of Sports Authority is just another example of a crowded retail market and overbuilding of this segment.

We have Dick's Sporting Goods and Gander Mountain next to each other. Other big players are expanding, like Sports Authority and Bass Pro Shops--all selling the same stuff.

I've yet to figure out how Bass Pro Shop can get local governments to waive property taxes and do huge capital expenditures on infrastructure when they put in a new store. Bass Pro got the City of Memphis to spend $105 million on The Pyramid to get ready for them to spend $30 million on the store. How many fishing lures do they have to sell to just pay the utility bill on a 550,000 square foot store with a 200' ceiling?

It's just a segment of the retail market selling relatively small items--but with big, big overhead and operating expenses. That's not exactly the best business model to be in.
Bamaman is offline   Reply With Quote
Old 05-26-2016, 08:59 AM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 17,205

We went to one that closed earlier.... the prices were not good at all.... and there was nothing good left anyhow...


I cannot believe how many people do not look at price and only see SALE or GOING OUT OF BUSINESS and buy.... there is no way the store should have been empty with the prices I saw....
Texas Proud is offline   Reply With Quote
Old 05-26-2016, 08:59 AM   #19
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
jollystomper's Avatar
 
Join Date: Apr 2012
Posts: 6,136
Funny thing, DW and I were just in Sports Authority the weekend before they announced their plans to shut down the entire chain. I'm glad we finally used our Sports Authority gift cards from Christmas.
__________________
FIREd date: June 26, 2018 - "This Happy Feeling, Going Round and Round!" (GQ)
jollystomper is offline   Reply With Quote
Old 05-26-2016, 11:51 AM   #20
Full time employment: Posting here.
YVRRocketSurgery's Avatar
 
Join Date: Dec 2015
Location: Vancouver
Posts: 915
Quote:
Originally Posted by 6miths View Post
Sports Authority closed its Canadian stores about 15 years ago. Got some great deals. Was sad to see them go.
I worked at one of the Vancouver locations as a lark after university. I thought the stores had a lot of potential and could have competed nicely against SportChek. But I think they made a lot of mistakes similar to Target.
YVRRocketSurgery is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
State housing authority bonds -- how safe are they? Mr._Graybeard FIRE and Money 5 10-30-2014 09:54 PM
Street Authority newsletters. clifp FIRE and Money 2 04-04-2008 04:37 PM
Builder Filed Chapter 7 frayne Other topics 4 12-12-2006 01:59 PM
Chapter 11 and impact on pension frayne Other topics 5 09-21-2005 06:00 PM

» Quick Links

 
All times are GMT -6. The time now is 06:58 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.