Sports Authority plans on closing down 140 stores.
The sporting goods retailer intends on filing for bankruptcy as early as next month, speeding up the closing of up to 450 stores across the U.S. Sports Authority missed a $20 million coupon payment on Jan. 15, triggering a 30-day grace period to make a payment plan with creditors.
In order to cut down costs, the retailer is closing 140 stores over the next three months across the U.S., including all 25 stores in Texas. Sports Authority is also closing its flagship store in the iconic Sports Castle in the Golden Triangle area in Colorado.
The Sports Castle at 10th Avenue and Broadway was built in 1926 and designed by Jules Jacques Benois Benedict, initially being home to a Chrysler dealership and Gart Sports, before Sports Authority merged with Gart.
The building is not a national landmark and it will close its doors.
