What happened Sports Authority? On March 2, 2016, Sports Authority filed for Chapter 11 bankruptcy, and the case was converted to Chapter 7 a few months later. On May 18, 2016, the company’s stores were sold to a group of liquidators and on May 25, CEO Michael Foss announced that all of the stores would close by the end of August 2016.
Who bought Gart Sports? Denver’s Gart family is exiting its iconic sporting-goods business after an 82-year run. Vail Resorts Inc. said Thursday it is buying out the Garts’ share of Specialty Sports Venture, a firm that had been jointly owned by the family and Vail.
Did Sports Authority go out of business? Sports Authority was an American sports retailer founded by a group of venture capitalists and founding executives in 1987. Increasingly burdened by debt, the company filed for bankruptcy in 2016. Sports Authority experienced intense competition from big-box retailers and eCommerce giants.
What is Sports Authority called now? June 30, 2016 – Dick’s Sporting Goods triumphed in the auction to acquire Sports Authority’s intellectual property and brand name. July 28, 2016 – Sports Authority’s website was redirected to Dick’s Sporting Goods’ website.