Going out of business sales at Sports Authority stores expected to begin the middle of this week, just as the long Memorial Day weekend kicks off. One of the 450 stores closing is at the Empire Center in Burbank. Sports Authority was once the largest sporting goods retailer in the country. Heavily in debt, the company filed for Chapter 11 bankruptcy back in March. It had hope to restructure and shutter only some of its stores. That plan fell through and last month came word Sports Authority had thrown in the towel and would close all stores.
The last glimmer of hope of saving any of the stores disappeared at an auction, last Monday. Two major sporting goods companies did put in bids, however, they were beaten out by three liquidators who will sell off all the assets. A recent stroll through the Burbank Sports Authority showed little indication that the company was going under. No big sales. No large crowds of shoppers hunting for bargains. That’s expected to change soon. The going out of business sales are expected to begin May 25 and run through August 31. Everything will be sold including the light fixtures and the shelving. The best deals at Sports Authority may be in mid-summer around July.
Sports Authority employees around 16, 000 people most of them part-timers. The closing of the Burbank store will mean laid-offs as well as leaving a large retail building vacant in the Empire Center.