UK retail giant weighing up bid for Sports Authority stores
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UK-based Sports Direct International – owner of the Dunlop fishing brand – is said to be among two businesses that are weighing up an 11th hour bid for up to 200 Sports Authority store leases.
A report in the respected Wall Street Journal says that Sports Direct and Modell’s Sporting Goods have expressed an interest in acquiring 100 to 200 of the stores, according to a declaration filed by Sports Authority’s bankruptcy case last week.
The bulk buyers are reported to ‘have a desire to hire a substantial number of employees, which could number thousands if a transaction is ultimately consummated’ according to the declaration made by Rothchild Inc. Managing Director Bernard Douton.
The deadline for submitting bids for Sports Authority, which is currently liquidating its inventory via ‘going-out-of-business’ sales, is tomorrow (Thursday).
A major supplier of fishing tackle, Sports Authority is based in Englewood, Colorado, and operated over 450 stores in 45 states across the US before filing for bankruptcy earlier this year.