Sports Authority closing all its stores

Sports Authority is closing all its stores. PHOTO BY DAVID LASSMAN Large sign for the Sports Authority store goes up at the Carousel Center Mall. (David Lassman/ dlassman@syracuse.com)

Sports Authority is closing all its stores in the coming months, according to a report in Forbes magazine.

The chain has decided to liquidate rather than reorganize after filing for Chapter 11, according to the report.

The company filed for bankruptcy protection in March, but has now said it will hold an auction for the company instead, potentially selling it off in pieces, according to the Los Angeles Times.

The store in Destiny USA announced in March it would be closing. The store is closing in June, according to a clerk at the store.

When the Chapter 11 reorganization was announced, the Englewood,CO-based company planned to close or sell roughly 140 of its 463 stores.

The company is reportedly $1 billion in debt, according to LasVegasNow.com

Sports Authority's Destiny location is the last remaining store the company has in Central New York. The town of Clay location closed in 2014.

The Sports Authority opened at the mall in 2005, using space formerly occupied by Eastern Mountain Sports and former Ames department store. The mall had been without a full-line sporting goods store since 1994, when bankrupt Herman's World of Sporting Goods left.