SBD/30/Sponsorships Advertising Marketing

THE SPORTS AUTHORITY MAKES OFFER FOR RIVAL SPORTSTOWN

     The Sports Authority has reached a deal to buy out Atlanta-
based SportsTown, Inc., "its biggest competitor in metro
Atlanta," according to Matt Kempner of the ATLANTA CONSTITUTION.
The agreement needs to be approved by a majority of SportsTown's
250 creditors and U.S. Bankruptcy Court, "which has been
overseeing the retailer's reorganization since February."  The
deal could "also be overridden by sweeter bids that may be
offered by other retailers eyeing SportsTown's inventory and
store leases."  The Sports Authority Chair Jack Smith said if the
buyout goes through, all 23 SportsTown stores would be "closed
quickly; at least 16 would reopen under the TSA name by the end
of the year."  Smith said the buyout "strengthens us in a very
important market like Atlanta and puts us in Texas" (ATLANTA
CONSTITUTION, 5/27).  The deal would also provide The Sports
Authority with a presence in OK.  The Fort Lauderdale-based
company operates 110 stores in 22 states.  SportsTown is in TX,
OK, GA, NC and SC (MIAMI HERALD, 5/27).
Return to top

Related Topics:

The Sports Authority

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug