Credit: Sports Authority
According to a report in Forbes, Sports Authority will shut down operations this month.
Unless there is a last minute buyer who decides to keep stores open, the Middletown location along with all other Sports Authority stores will close in the coming weeks. The company operates over 450 retail locations and employs more than 14,000 people. The Middletown store is located in the 2300 block of Lincoln Highway and doesn’t often appear very busy.
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The company filed for bankruptcy earlier this year. Instead of reorganizing under Chapter 11 bankruptcy protection, Sports Authority will reportedly close all its store and auction off their assets.
In March, the retailer filed for bankruptcy and said it owes more than $1 billion to creditors.
The chain has lost it’s foothold in the market in recent years and has been surpassed by both brick-and-mortar and online competitors.
