Sports Authority Speeds Up Store Closings

Sports Authority is accelerating its store closing schedule as the company speeds toward total liquidation. Most stores could be closed by the end of July.

Store managers have reportedly been instructed to wrap things up ahead of schedule — including wiping clean computers before turning out the lights for good.

Stores were supposed to remain open through August, and some locations will, but most will go dark a month early as the company hurries to sell assets, satisfy debts and stop paying for ongoing operations.

The company had hoped to sell off many of its 460 stores, but the lot drew no bidders at auction.

Some cash was raised through the sale of intellectual property. Dick's Sporting Goods bought 31 locations for $8 million and won the rights to the Sports Authority brand for $15 million, which means it could live on was an e-commerce operator or in some other form.

But the website is closed, gift cards aren't being accepted and stores will soon go dark.