Sports Authority closing SLO store

March 3, 2016

Microsoft PowerPoint - 765-SLOBy JOHN LINDT

The Sports Authority chain filed for Chapter 11 bankruptcy Monday after missing a $20 million interest payment earlier this year. The sporting goods retailer plans to close 140 of its 463 store including its store on Madonna Road in San Luis Obispo.

Store will begin “everything must go” sales in the next few days.

The Colorado-based company said it has $1.1 billion in debt. Also on the chopping block are Sports Authority stores in Ventura and Bakersfield. The list of stores to be liquidated includes 25 stores in Texas, 19 in California, 18 in Florida and 11 in Illinois.

 


Loading...
Rambunctious

Hmmmm? Why are all of these company’s going out of business now? The media keeps telling us how great the economy is and how much it has recovered. Gee are they lying to us?


obispan

I know how badly you want to blame the n****r in the WHITE House but I don’t buy box store crap or pay their rent anymore. I buy the good stuff, ONLINE.


Rambunctious

You don’t know half of what you think you know….


ratherbefishing

It appears that some folks at Corporate were asleep at the wheel, just collecting their paychecks. Should have started closing down stores before the debt hit $500 million. $1.1 billion in debt doesn’t happen overnight


achillesheal

We all belong to a big box with 20 trillion in debt and its doubled in the last 8 years. Is bankruptcy also looming?


achillesheal

Sounds like management needs to be fired at that big box as well.


demiseofslo

Sucks for anyone that worked there. That store sucked though, generic sports equipment and lame skateboards!


shelworth

Shoes are a good example of what’s killing the Brick and Mortar stores, I recently bought some new walking shoes online for $54 with free shipping, the same exact shoes at Taken’s were 104. I can’t afford to give away $50 bucks just to keep someone else in business. Damned if you do, damned if you don’t. Welcome to the future.


slolusion

Sears will be next to close and maybe that BestBuy too.


Hotels, old folks homes, and retiree healthcare are the new economy for SLO.


Jorge Estrada

Last week I talk to a financial planner for and investment strategy. All he could say was Depends? Now I know what he was speaking to.


TWEEKSBALMER

Don’t forget all of our government workers, most of the ones I know shop out of the area or are on cruises.


achillesheal

Good pun, Jorge.


Don’t forget homeless shelters, slolusion.


Part of the Dee Torres economics of SLO.


slolusion

I’ll save you the fee – As people in SLO county get in more and more poverty, the discount, cheapest stuff is what will remain. Except for downtown, which will become a little more upscale catering to the student loan money, the billion dollar app for plucking your nose hair economy, and the rich bunker “to hell with everyone” class.


This 2016 election is probably tame compared to what to come.


tomsquawk

the older you get, the better Wal*Mart looks


agag1

While this is not all that unexpected, it is very unfortunate for the employees.

Brick and mortars are struggling.


r0y

I forgot they were even there. I’m never in that shopping center anymore, apart from the occasional Kohl’s (*shiver*) visit… and Mike’s Shoes about ever other year or so.


Sorry to see them go and the loss of jobs and revenue, but $1.1B debt is a lot for a private company (hell, it’s a lot for anything, really).


isoslo

See’s Candy


TWEEKSBALMER

Sweet!


Kaiser Bill

Madonna Plaza is wishing they didn’t bring in Sports Authority and dump Big 5, a long time tenant and a far better sporting goods store that also has camping, hunting, and fishing gear!


Rich in MB

The economy is about to get worse folks and the Fed won’t be able to save us with QE Infinity.