Sports Authority Cuts Around 100 Jobs As Company Struggles To Avoid Bankruptcy

Sports Authority last week "cut about 100 jobs" -- most at company HQ -- as the sporting goods chan continues "struggling to avoid bankruptcy," according to Alicia Walker of the DENVER POST. The cuts at HQ include 16 people "in the team sales division." An e-mailed company statement said that the cuts are "part of a 'balance sheet restructuring' aimed at reducing the debt load." Walker noted Sports Authority has "at least" $643M of debt. The company, which holds naming rights to the Broncos' stadium, now will have "about 750 full-time corporate employees after the cuts" (DENVER POST, 1/30). The WALL STREET JOURNAL's Sara Germano noted Sports Authority "operates roughly 450 stores nationwide, making it among the largest sporting goods chains, after Dick's Sporting Goods" (WSJ.com, 1/30).