Saving money on just announced sports authority does not have to be complicated. We rounded up the essentials so you can spend less and skip the guesswork.
Key Takeaways
- Advertisement Sports Authority will officially close all stores As as result of its bankruptcy woes, it has just been announced that Sp...
- The liquidation bid for its merchandise has just been won by a group of three liquidators: Tiger Capital Group, Hilco Gl...
- Read more: 11 retailers closing the most store this year Sports Authority filed Chapter 11 bankruptcy protection in March and had...
Sports Authority will officially close all stores
As as result of its bankruptcy woes, it has just been announced that Sports Authority will officially close all stores and eventually shut down operations. The liquidation bid for its merchandise has just been won by a group of three liquidators: Tiger Capital Group, Hilco Global and Gordon Brothers.
Read more: 11 retailers closing the most store this year
Sports Authority filed Chapter 11 bankruptcy protection in March and had planned to only close 140 stores in an effect to remain afloat. But with the recent announcement, this doesn’t appear possible for the retailer.
According to a source who spoke with the Wall Street Journal, liquidators Tiger Capital Group, Hilco Global, and Gordon Brothers reportedly bid 101% of the cost of Sports Authority’s inventory, plus $1.8 million. Two of the liquidators managed liquidations sales for CompUSA, Circuit City, Linens-N-Things, Borders, Hollywood Video, Coldwater Creek, and Deb, and all three worked with RadioShack’s. Luckily, in RadioShack’s case, the lender kept the brand going as a result of a partnership with Sprint, saving thousands of jobs, according to Consumerist.
Read more: Kohl’s is closing these 18 stores across U.S.
Deals on the horizon?
Though nothing has been announced yet as far as when liquidation sales will begin, there is sure to be a lot of buzz whenever that happens. But, don’t count on getting the best deal in a liquidation sale: Though you might be able to get goods at a discount, it may not be ‘bargain barrel’ like you might expect, according to DealNews. And plus, all sales are final: There is no returning your purchases if you don’t like the item or you find a better deal elsewhere. The liquidators still hope to make money on their purchase!
But, liquidation sales at Sports Authority will at least be worth a look!
Read more: Secret way to get brand name merchandise at super excellent prices
AdvertisementFinal Thoughts
Before you check out, double-check just announced sports authority against current offers and any coupons you can stack. Small habits like this add up to real savings over a year.
Originally published at clark.com.
