t:(978)496-2090 f:(978)496-2002

The sporting goods retailer found itself with $10B in liabilities but only $1B in assets in January so has chosen to attempt to restructure its debt.  Competition from online shopping is to blame, say company spokespeople, putting Sports Authority in a similar situation as Radio Shack and many others.  The Englewood, CO based entity missed a $20M coupon payment to creditors which triggered the filing, during which process the company will decide whether to restructure or sell assets. Bankruptcy Attorney David R. Chenelle forwards this Reuters article with more information: http://www.reuters.com/article/us-sportsauthority-bankruptcy-idUSKCN0W416O

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