Fallen Sports Authority Files for Bankruptcy, Prepares for 140-Store Shutdown

FALLEN SPORTS AUTHORITY FILES FOR BANKRUPTCY, PREPARES FOR 140-STORE SHUTDOWN Sports Authority, Portofino Shopping Center, Shenandoah, Texas, 77385Sports Authority filed for Chapter 11 bankruptcy this morning, after some January lay-offs and a multi-million-dollar missed interest payment. Sports Authority had already announced the planned closure of some 140 underperforming stores; employees at a Dallas branch were told in February that all Texas stores would close, including the 11 in and around Houston.  The company now says those closings will occur over the next 3 months; CEO Michael Foss told the Denver Post that the timeline will hopefully give the 3,400 employees anticipated to be let go “plenty of time to find their next opportunity, whether it’s in the company, or wherever else it is.” [Denver Post; previously on Swamplot] Photo of Sports Authority in Portofino Shopping Center: Woodlands Monocle