Business

Fresno Sports Authority not on closure list

Fresno once had two Sports Authority stores, opposite each other near North Blackstone Avenue. The store west of Blackstone Avenue, near Bed, Bath & Beyond, closed in 2012. The space reopened as a Sprouts grocery store in 2013. The Sports Authority in River Park shopping center remains open and is not on a list released Thursday, March 3, 2016 of stores slated to close as part of the company’s Chapter 11 bankruptcy.
Fresno once had two Sports Authority stores, opposite each other near North Blackstone Avenue. The store west of Blackstone Avenue, near Bed, Bath & Beyond, closed in 2012. The space reopened as a Sprouts grocery store in 2013. The Sports Authority in River Park shopping center remains open and is not on a list released Thursday, March 3, 2016 of stores slated to close as part of the company’s Chapter 11 bankruptcy. Fresno Bee file

It appears the Sports Authority store in Fresno will remain open.

The store in River Park is not on a list of 140 stores that the retailer plans to close as part of its Chapter 11 bankruptcy announced Wednesday. The list, which must be approved by the bankruptcy court, was filed Thursday and includes several stores in California.

Stores in Bakersfield, Stockton, San Luis Obispo and Walnut Creek are slated for closure, along with another 15 stores in the state.

“We are taking this action so that we can continue to adapt our business to meet the changing dynamics in the retail industry,” CEO Michael Foss said in a written statement. He said the company needs fewer stores as consumers increasingly shift to online shopping.

Foss said The Sports Authority Inc., which is privately held, has received interest from third parties that may want to invest in or buy some or all of the business. The company plans to continue evaluating all of its options, he added.

Sports Authority said it expects to have sufficient liquidity during the Chapter 11 process when factoring in cash from operations and anticipated access to up to $595 million in debtor-in-possession financing.

The Associated Press contributed to this report.

Bethany Clough: 559-441-6431, @BethanyClough

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