Under Armour Affirms Guidance After Sports Authority Bankruptcy Filing

As part of the upcoming process, Sports Authority will close or sell approximately 140 stores and two distribution centers, in Denver and Chicago.

Struggling retailer Sports Authority Inc., which filed for bankruptcy protection from creditors this week, will continue to operate all four of its stores in the Milwaukee area. The voluminous docket for that filing includes a list of stores slated for closing.

Sports Authority has 463 stores nationwide, including in Puerto Rico. The company's stores offered an outdated shopping experience with more of a warehouses feel of athletic supplies, compared to the modern locations offered by its competitors.

"Due to the changing retail environment, we have a long-term plan to streamline and strengthen our business so we can continue to make necessary investments in our operations, including upgrading our in store experience and enhancing our website", he wrote.

There is no expected effect on gift card balances or customers' ability to use gift cards at stores or online at this time.

The Sports Authority locations in Gaithersburg, Waldorf, Catonsville and The Mall in Columbia will begin their liquidation sales today. TSA Stores has also requested the courts permission to continue paying employees' wages, salaries and benefits throughout the bankruptcy proceedings.