Sports Authority announces closing of all stores

(WPRI) — Popular retail chain Sports Authority has announced that it is officially closing all 450 of its stores.

The company filed for Chapter 11 bankruptcy in March and was unable to find a buyer. The once-leading sports goods retailer had 14,500 employees at the time of filing.

Sports Authority says it lost market share to online retailers and became swamped with more than $1 billion in debt, making it difficult to keep up with consumer trends.

There are three Sports Authority stores in Rhode Island and one in Southeastern Massachusetts.

Details about when the remaining stores will close have not been released yet.

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