Sports Authority Files for Bankruptcy Protection
02 Março 2016 - 8:50AM
Dow Jones News
The Sports Authority Inc. filed for chapter 11 bankruptcy
protection Wednesday and could shut down in the coming weeks unless
it finds a buyer for its business, according to people familiar
with the matter.
The company, which operates about 450 stores, has agreed to take
up to $595 million in bankruptcy financing from senior lenders
including Bank of America Corp., Wells Fargo & Co., J.P. Morgan
Chase & Co. and TPG, the people said.
As a condition of the loan, Sports Authority would close and
clear out dozens of stores after filing for chapter 11, some of the
people said. The company would need to close the rest of its store
base by the end of April if it can't find a buyer that would put
more money into the business, they added.
Write to Matt Jarzemsky at matthew.jarzemsky@wsj.com and Sara
Germano at sara.germano@wsj.com
(END) Dow Jones Newswires
March 02, 2016 06:35 ET (11:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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