Sports Authority To Close Melbourne Store As Part of Chapter 11 Reorganization Plan
By Space Coast Daily // March 4, 2016
COMPANY TO SHUTTER 18 STORES IN FLORIDA
BREVARD COUNTY • MELBOURNE, FLORIDA – Sports Authority announced this week that the company’s store in Melbourne, located at 1750 Evans Road, is closing, along with 140 other store across the country.
Sports Authority filed a Chapter 11 reorganization plan on Wednesday, and according to Bloomberg, the company filed for bankruptcy protection with a plan to slim down after missing out on the fitness boom that’s been a rare bright spot in retail.
According to Sports Authority, they will close about 30 percent of their 463 stores, while trying to preserve $124 million in tax deductions.
“We are taking this action so that we can continue to adapt our business to meet the changing dynamics in the retail industry,” said Chief Executive Officer Michael E. Foss in a statement.
“We intend to use the Chapter 11 process to streamline and strengthen our business both operationally and financially so that we have the financial flexibility to continue to make necessary investments in our operations.”
One solution being considered is to sell their stores to one or more competitors, and Dick’s Sporting Goods is a likely buyer.
Other Sports Authority store closings in Florida include:
• Altamonte Springs, 380 S. State Rd. 434
• Bradenton, 201 Cortez Road West
• Daytona Beach, 1910 W. International Speedway Blvd
• Estero, 8012 Mediterranean Drive
• Fort Myers, 9375 Ben C Pratt Pkwy.
• Fort Myers, 2317 Colonial Blvd.
• Lakeland, 3800 US Highway 98N
• North Port, 18219 Tamiami Trail
• Ocala, 4039 SW 43rd Street Rd.
• Orlando, 7500 W. Colonial Dr.
• Orlando, 610 N. Alafaya Trail
• Port Richey, 9560 US Highway 19
• Port Saint Lucie, 10648 SW Village Pkwy.
• Spring Hill, 1417 Wendy Ct.
• Tallahassee, 1644 Governors Square Blvd.
• Tampa, 1730 E. Fowler Ave.
• Wellington, 820 S State Road 7
ABOVE MAP: Sports Authority announced this week that the company’s store in Melbourne, located at 1750 Evans Road, is closing, along with 140 other store across the country.