DENVER — Sports Authority will close at least three Denver metro-area stores, including the Sports Castle, as part of a restructuring that will result in 140 stores closing nationwide, according to the Denver Business Journal and a source close to the company Wednesday.
Besides the flagship location at 1000 Broadway, Englewood-based Sports Authority will close stores at 9000 E. Peakview Ave. in Greenwood Village and a branch of its S.A. Elite brand at 1750 29th St. in Boulder, the Denver Business Journal reported.
The 100,000-square-foot, seven-story Sports Castle is owned by Gart Properties.
A source familiar with Sports Authority confirmed the company’s plans to close those locations.
The S.A. Elite store in Boulder said on its website: “Hurry in and save. We’re closing” as of Feb. 27.
Last month, there were reports Sports Authority was having major financial troubles and that it missed a $21 million interest payment, prompting concerns over the company’s future.
Bloomberg News reported Feb. 4 that the company was close to filing for Chapter 11 bankruptcy protection.
The source had no comment on the possibility of Sports Authority filing for bankruptcy.
Other metro-area stores could be closed, the Denver Business Journal reported.
Sports Authority pays about $6 million a year for the naming rights to Sports Authority Field at Mile High.