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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
16 Points
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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
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