Sports Authority announced it will close 140 stores, San Clemente’s proposed location not on closures list
By Eric Heinz
After it was announced by TCA Stores, Inc., Wednesday, March 2 that Sports Authority will close 140 of its 400-some stores nationwide as well as two distribution plants in Denver and Chicago in a bankruptcy liquidation, a list of the stores was released by the company.
San Clemente’s proposed store, located in the Estrella Plaza, is not on that list.
The San Clemente location is expected to open sometime in September, according to Sue Jagodzinski, a development manager with Kornwasser Shopping Center Properties, which is working with Burnham USA on the Estrella Plaza development.
The bankruptcy filing was made in United States Bankruptcy Court for the District of Delaware.
“In conjunction with the Chapter 11 filing, the Company expects to have access to up to $595 million in debtor-in-possession (DIP) financing. Subject to Court approval, the DIP financing, combined with the Company’s cash from operations, is expected to provide sufficient liquidity during the Chapter
11 process,” the statement read.
We will provide updates on this story once they become available.