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Travel Sports Authority asset auction won by group of liquidators

A consortium of liquidators that includes Tiger Capital Group, Hilco Global and Gordon Brothers prevailed in an auction for Sports Authority Holdings Inc.'s assets, according to people familiar with the matter.The winning bidders topped a rival offer from a second group of liquidators that included Yellen Partners, SB Capital Group and 360 Merchant Solutions. and Dick's Sporting Goods Inc., each for small batches of stores, the people said.
The Denver Post
17/05
51 Points
1

Sports Authority holds out hope for last-minute sale to stave off liquidation

Not so fast.Sports Authority assumed the $120 million Mile High Stadium naming-rights contract vacated by Invesco Ltd. This story will be updated.MORE: Englewood grappling with likely loss of Sports Authority corporate HQ.Last week, Sports Authority's attorneys said the company would not emerge under a reorganization plan, but rather would pursue asset sales.Judge Mary Walrath, of the U.S.
The Denver Post
03/05
14 Points

Money Why Sports Authority is throwing in the towel and closing all of its stores

When struggling retailer Sports Authority filed for Chapter 11 bankruptcy last month in the face of more than $1 billion in debt, the company indicated that it had two options going forward.One of those was to shed underperforming stores and emerge from bankruptcy as an intact, but pared-down company. Just last week, Sport Chalet announced the closure of all 47 of its stores in California, Nevada and Arizona.
San Jose Mercury News
29/04
6 Points
1 2

Likely Sports Authority store closure shouldn't impact Longmont's sales tax revenue

It has meant the city of Longmont must use its own cash and tap reserves to make payments on the loans it has taken out to help finance the development. The store is now scheduled to open in December.Whole Foods' decision to significantly slow the launch of its Longmont location dramatically reduced the sales taxes the city planned to collect this year.
The Denver Post
28/04
9 Points
1

Englewood grappling with likely loss of Sports Authority corporate HQ

But on Tuesday, company attorney Robert Klyman told a bankruptcy judge that creditors had made reorganization impossible and that the company would now pursue a sale of its assets.Keck said city officials have already reached out to the owner of the Sports Authority corporate building, Denver-based Etkin Johnson Real Estate Partners, to gauge their plans for the property. "This is a terrible blow to our community," Englewood city manager Eric Keck said Wednesday.
The Denver Post
28/04
15 Points
1

Sports Authority gives up hope of survival, will go to auction

But under Chapter 7, the creditors are on the hook for those costs.The Wall Street Journal contributed to this report. One was to pare down non-performing stores and emerge from bankruptcy with its independence intact. "It is more likely it will be stripped for parts."Another unresolved question is who will get to oversee the company's liquidation . That's because under Chapter 11, Sports Authority is responsible for its rent payments and other administrative costs.
The Denver Post
27/04
23 Points
1

Sports Authority gives up hope of survival, will go to auction

But under Chapter 7, the creditors are on the hook for those costs.The Wall Street Journal contributed to this report. One was to pare down non-performing stores and emerge from bankruptcy with its independence intact. "It is more likely it will be stripped for parts."Another unresolved question is who will get to oversee the company's liquidation . That's because under Chapter 11, Sports Authority is responsible for its rent payments and other administrative costs.
The Denver Post
27/04
23 Points
1

Exclusive: Sports Authority CEO talks about the chain's post-bankruptcy future

Foss said Sports Authority "right-sized the company," as part of "an operational restructuring plan we put in place a couple months ago.""The growth rate of the e-commerce markets where we have stores and where we don't have stores ? there was only a couple percentage point difference. They're both growing very strongly."Dual-path process:Sports Authority has plotted two paths to exit bankruptcy.
The Denver Post
27/04
9 Points

New name for Denver Broncos' stadium? Not so fast.

half paid to the Broncos, the other half to the district.As Invesco shed jobs in Denver and ultimately left town in 2009, the company still paid to keep its name on the stadium."When it was originally Invesco, Sports Authority went to Invesco. It wasn't something the district did. But it did have to get (renaming) approval from the Broncos and the board," Sugar said. Back in 2001, investment firm Invesco agreed to a 20-year, $120 million naming rights contract.
The Denver Post
27/04
17 Points
1

Sports Sports Authority gives up hope of survival, will go to auction

Sports Authority has abandoned hope of reorganizing and exiting bankruptcy and instead will count on buyers to save parts of its sprawling retail chain, company lawyer Robert Klyman told a judge Tuesday."It has become apparent that the debtors will not reorganize under a plan but instead will pursue a sale," Klyman told Judge Mary Walrath at a hearing in the U.S.
The Denver Post
27/04
18 Points
1

Travel Bill would forever preserve "Mile High" in Broncos' stadium name

New corporate interests could soon line up for naming rights to the Super Bowl champions home field."Broncos fans throughout Denver and Colorado have been uniformly supportive of the Denver Broncos," said Rep. The Broncos paid the rest.The Denver' Metropolitan Football Stadium District, which oversees the stadium, already has been fielding interest from other possible sponsors, a spokesman said last month.Joey Bunch: 303-954-1174, jbunch@denverpost.com or @joeybunch.
The Denver Post
27/04
10 Points
1

Exclusive: Sports Authority CEO talks about the chain's post-bankruptcy future

Foss said Sports Authority "right-sized the company," as part of "an operational restructuring plan we put in place a couple months ago.""The growth rate of the e-commerce markets where we have stores and where we don't have stores ? there was only a couple percentage point difference. They're both growing very strongly."Dual-path process:Sports Authority has plotted two paths to exit bankruptcy.
The Denver Post
27/04
4 Points

Money Sport Chalet plans to close all stores; 2 in Bay Area

Most of its stores are in California, with a few in Nevada and Arizona.The Pleasanton store is in the Metro 580 Shopping Center on Rosewood Drive; the San Jose store is in the Eastridge Shopping Center. In March, Sports Authority announced it would file for Chapter 11 bankruptcy protection and close some California locations.Sports Chalet was founded in 1959 in La Cañada, near Pasadena, where the company is headquartered, and has roots in Orange County, according to the company's website.
San Jose Mercury News
17/04
21 Points
1

Sports Authority pushes back bankruptcy auction amid high interest

Amid the bankruptcy process, Sports Authority butted heads with some of its suppliers. has pushed back the date for a planned bankruptcy auction amid "substantial" interest from several potential bidders, a company lawyer said Thursday. Martorana said the extended sale schedule was a concession to landlord concerns that a chain of 464 stores was being dismantled too quickly.Sports Authority employed about 13,000 people at the time it filed for bankruptcy in March.
The Denver Post
14/04
13 Points
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