Dick’s Sporting Goods Bids On 17 Sports Authority Stores
Dick’s Sporting Goods submitted a bid for 17 Sports Authority stores last week, while other retailers have made offers for single locations.
The sporting goods retailer filed for bankruptcy in March amid fierce competition from bigger retailers and e-commerce firms, with hopes to restructure and continue operations, but that effort failed.
An auction will be held next week and a bankruptcy court judge will approve the final sale, Reuters reports.
Dick’s is the leading sporting goods retailer in the states and has 600 stores. In addition to its bid, Modell’s and UK sports retailer Sports Direct International have announced plans to bid together for roughly 200 of Sports Authority's 646 stores. [Reuters]