Sports Authority is looking for buyers

Sports Authority is looking for a new way out. Instagram/Sports Authority Sports Authority is gasping for air. The company, which filed for bankruptcy protection last month, is now looking for buyers instead of restructuring, The Wall Street Journal reports. "It has become apparent that the debtors will not reorganize under a plan but instead will pursue a sale," Sports Authority's lawyer, Robert Klyman, said at a US Bankruptcy Court, according to the Journal.



The majority of what Sports Authority owns will go up for auction on May 16. A bunch of its store's leases were already posted in March. Earlier in April, CNBC reported that Academy Sports, Dick's, and Modell's had demonstrated that they might be interested in acquiring Sports Authority.

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