Q:

Why did Sports Authority close some stores?

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Quick Answer

The closing of Sports Authority stores in 2015 is mainly the result of increased competition from its competitor Dick's Sporting Goods and from online retailers such as Amazon.com. Target and Wal-Mart are also taking away business from the sports retailer, while independent boutiques are also hurting the giant's golf sales.

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Full Answer

Credit rating analyst Moody's claims the Englewood, Colorado-based Sports Authority could be close to defaulting on a $300 million loan, stating that the company's long-term capital structure is unsustainable.

As of 2015, Sports Authority is owned by the investment firm Leonard Green & Partners and operates 450 stores across 41 states.

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