As early as March.
That’s the latest time frame pegged for a Sports Authority Chapter 11 filing to drop, , citing three unnamed sources.
The potential bankruptcy filing has been before — when the Englewood-based sporting goods retailer , when that payment’s 30-day grace period expired on Feb. 14, and when news of and store closures started to trickle in.
Here’s what we know for certain: Sports Authority officials are in restructuring discussions with lenders and the company hasof its 450-plus stores for closure, a source close to the situation told The Denver Post. There is no timeline for when — or if — a filing would be made, the source said.
Retail and banking analysts say for Sports Authority, as it struggles under a hefty debt load (the privately held company’s load is at least $643 million, but potentially above $1 billion), and looks to shed unprofitable stores.
Sports Authority has started to wind down operations at some locations including its Sports Authority Sports Castle, 1000 Broadway, in Denver, and the Arapahoe location at 9000 E. Peakview Ave. in Greenwood Village. Over the weekend, the Arapahoe location was offering 25 percent off items already reduced for clearance.
Outside of Colorado, reports are coming in that Sports Authority plans to shutter as well as stores in such markets as , , and .
