Friday, May 20, 2016

Sports Authority Strikes Out, Closing All Stores

Unable to find a buyer, bankrupt sporting goods retailer Sports Authority will be closing all of its remaining stores nationwide. 

Englewood, Colorado-based Sports Authority, once the largest sporting-goods chain in the country with stores in 41 states and Puerto Rico, filed for Chapter 11 bankruptcy in March with the intention of restructuring.  The retailer closed 140 of its 450 stores in March in an effort to continue as a going concern. After failing to reach agreements with their creditors and lenders, the company was instead sold at auction and will shutter all of its remaining stores.  A group of liquidation companies purchased Sports Authority's assets including inventory, furniture and other fixtures. The leases for its stores will be sold off.  

Liquidation sales are expected to begin after Memorial Day (May 30th)

Sports Authority leases and the vacancies they will leave are sure to be a popular topic at next week's RECon convention in Las Vegas. RECon is the global convention for the shopping center industry and attracts tens of of thousands of attendees.  

Sports Authority closed its Hiram and Lilburn locations during its first round of closures but still has nine stores in Georgia:  

7461 N Point Pkwy - Alpharetta 
3221 Peachtree Rd NE  - Buckhead   
2963 Cobb Pkwy -  Atlanta   
850 Cobb Place Blvd NW -  Kennesaw   
1705 Mall of Georgia Blvd - Buford  
3450 Steve Reynolds Blvd - Duluth   
3200 Northlake Pkwy NE - Northlake    
1155 Mount Vernon Hwy - Sandy Springs  
2209 Highway 20 SE - Conyers 

The Sports Authority stores in the Northlake and Buckhead areas anchor the centers in which they are located.  The majority of the stores locally measure between 40-50,000 square feet making the pool for single tenants to replace them rather small.  

Dick's Sporting Goods, Modell's and Academy Sports + Outdoors, all competing sporting goods retailers, could also have interest in some of the Atlanta area stores.

Some Sports Authority stores also could receive the attention of TJX Companies, owner of T.J. Maxx, Marshalls, and HomeGoods, who recently announced plans to open over 1,000 new locations globally. 

What would you like to open in your neighborhood Sports Authority? Why do you think Sports Authority failed to stay relevant?  Do you prefer to purchase your sporting goods in a boutique retail environment, large format store or online?   

Please share your thoughts below.  


Ham said...

When Sports Authority opened they were my go to sports store. However, after a few years they seemed to slip a good bit with dirty stores, bad service and limited inventory. Then Academy sports opened and I haven’t even considered visiting Sports Authority since.

Anonymous said...

Doubt that any national retailer will move into the shuttered Lilburn location on US 78. Most the big boxes on 78 seem to go unnoticed by developers as the trend is to build on GA 124 Scenic Hwy in Snellville. The demographic shift around the Duluth location makes it questionable as Super target even shut don the street.

Anonymous said...

I thought the Northlake Sports Authority was doomed anyway since Dick's is going to open nearby. I'd like to see that whole shopping center be renovated or better yet torn down and something much nicer looking built in its place.

TheJohnP said...

Unlike Anon above, I hope the Sports Authority Village (as the shopping center is called) remains. If only for Bambinelli's, which has a long history in the neighborhood.
Maybe they should call it Bambinelli's Village instead?

Anonymous said...

Glad to see the Northlake location go - Dick's down the street will be a much better alternative. Sports Authority had a pretty bad selection and a dreary atmosphere.

That leaves a significant piece of land available (with a large parking lot). And an opportunity to redevelop that entire shopping center.

That would be a great location for a Trader Joe's. And a drive-through Starbucks in the parking lot.

This intersection is going to be even busier with the Tucker Meridian development down the street and with the coming development at Northlake Mall.

Close to 285 and 85, close to Decatur, close to Tucker. It's a good location to draw from multiple areas.

Anonymous said...

"That would be a great location for a Trader Joe's."

When are people going to stop regurgiating that line and accept reality? A billion people could request Trader Joe's but you will not get one. Either move right beside one, or be prepared to make the weekly pilgrimage to worship at the location most convenient to you now. SMH! Some days I wish this year's April Fools joke were TRUE to watch you people flip out like the World is coming to an end!

Anonymous said...

Bambinelli's needs to go. Sub par Italian food.

Anonymous said...

I agree very subpar Italian food. I think people go ooooo ahhhhh, Italian food, but their palates are so unsophisticated they actually don't even know the food is terrible. I think they just like the mound of gooop dough with cheap garlic salt on top that they call garlic rolls- for the table- just half of one step above Olive Garden breadsticks. Yuck.

Anonymous said...

I have never been impressed with Bambinelli's either.