Sports Authority mulls closing all stores nationwide

Sports Authority to Close 140 Stores

ENGLEWOOD, Colo. (KDVR) -- It soon could be the end of the road for Sports Authority. Instead of cutting back or restructuring, the company will sell off its assets and could close all of its stores across the country, including the three in Denver, according to Forbes.

A decision to close more than 450 stores nationwide has not been made.

The sporting goods giant filed for Chapter 11 bankruptcy in March. On Sunday, signs were posted at the Broadway Sports Castle advertising big markdowns on every item.

Forbes reports Sports Authority is more than $1 billion in debt, an unrecoverable amount unless the entire company is put on the auction block.

"We didn't realize it would happen as quickly as it did," shopper Luke Ritchie said.

Sports Authority around the country:

Sports Authority stores around the country
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Sports Authority mulls closing all stores nationwide
DENVER, CO - APRIL 26: Customers come and go from the Sports Authority flagship 'Sports Castle' at 1000 Broadway in Denver on Tuesday, April 26, 2016. Sports Authority has abandoned hope of reorganizing and exiting bankruptcy and instead will count on buyers to save parts of its sprawling retail chain, company lawyer Robert Klyman told a judge Tuesday.(Photo by Kathryn Scott Osler/The Denver Post via Getty Images)
A Sports Authority store is shown in Encinitas, California on March 2, 2016. Sports Authority Inc. said it had filed for Chapter 11 bankruptcy protection and hired liquidators to begin closing up to 200 of its 463 locations. REUTERS/Mike Blake
MIAMI, FL - MARCH 02: A Sports Authority store is seen as the company files for Chapter 11 bankrupty on March 2, 2016 in Miami, Florida. The chain of stores owned by private equity firm Leonard Green & Partners will seek to sell or close about 140 stores. (Photo by Joe Raedle/Getty Images)
GREENFIELD, WI - NOVEMBER 28: Shoppers wait in temperatures in the mid teens as they wait to get their holiday shopping season going at the annual Black Friday sales event at the Sports authority store November 28, 2014 in Greenfield, Wisconsin. (Photo by Darren Hauck/Getty Images)
A pedestrian walks past a Sports Authority Inc. store in New York, U.S., on Saturday, Feb. 6, 2016. Sports Authority, once the biggest sporting-goods chain in the U.S., is preparing to file for bankruptcy. Photographer: John Taggart/Bloomberg via Getty Images
Retail sign. Sports Authority store in Lakewood, California.
SKISALES01-- Tents a set up, Wednesday Sept. 01, 2010, for people waiting in line to be the first shoppers inside for Sports Authority's Snigrab Labor Day weekend ski and snowboard sales, at Sports Authority's store on Broadway Ave. in Denver. RJ Sangosti/ The Denver Post (Photo By RJ Sangosti/The Denver Post via Getty Images)
NILES, IL - JANUARY 24: A sales associate walks past a Sports Authority sign near an athletic-shoe display at a Sports Authority store January 24, 2006 in Niles, Illinois. Sports Authority has announced that it has reportedly entered into an agreement to be acquired by a group of investors organized by Green Equity Investors IV, L.P. Englewood, Colorado-based Sports Authority is reported to be one of the country's largest sporting goods stores with about 398 retailers in 45 states under various store names. (Photo by Tim Boyle/Getty Images)
UNITED STATES - DECEMBER 20: Chicago Bears merchandise is on display at a Sports Authority store in Chicago, Illinois on Tuesday, December 20, 2005. The Chicago Bears' unexpected run at the National Football League playoffs with a division-leading 9-4 record, including the longest winning streak since the team's last Super Bowl title in 1985 -- 8 games -- is boosting business for sports bars and team-merchandise sellers. (Photo by Joe Tabacca/Bloomberg via Getty Images)
Staff Photo by John Ewing, Wed, Jan 30, 2002: New England Patriots merchandise has been a big seller at the Sports Authority store at the Maine Mall as fans look forward to this weekends Super Bowl game. (Photo by John Ewing/Portland Press Herald via Getty Images)

Many customers dropped hundreds of dollars and left with even more than they expected.

"We got three North Face jackets and one Columbia jacket. The total was about $150 and I think normally we'd spend that much for any one of these jackets," Ritchie said.

The company originally planned to close only 140 stores to help dig out of the massive debt. But according to court documents filed in April, the retailer will liquidate all assets by closing all 450 stores nationwide.

"It's a little surprising. You hear of the Main Street stores not surviving because of big-box stores like this, but it makes sense with Amazon and online purchasing that even these big stores would be having trouble," Ritchie said.

The longtime sports Authority location on Broadway 10th Avenue with its castle-like architecture has been a staple for many Denver natives.

"I played baseball all my young childhood, so I'd come here all the time for whatever I needed," Logan Johncox said.

Some said the closure is disappointing.

"It's a little bit of a sad passing, but it happens," Sam Dixon said.

But shoppers like Dixon couldn't pass up on a good deal.

"I was actually hoping to get something from last year or from a pawn shop. So this is actually a better deal for a brand new bike," Dixon said.

It's unclear when the Denver stores will officially close their doors.

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