Sports Authority is likely to be liquidated, a move that could result in all of its 463 stores closing—including its Rockville Pike location.
The latest news from Sports Authority comes after the retailer said in March it would close only 140 of its stores under a bankruptcy reorganization plan. But now the company is looking to sell some or all of its stores. A lawyer for the retailer said during a hearing last week the company is planning to pursue a sale later this month, according to CNN Money.
While it’s possible that a buyer—such as Dick’s Sporting Goods—would buy all or some of the stores and keep operating them, that possibility is unlikely, according to Fortune.
If all the stores close, that would include a location at the Montrose Crossing shopping center in Rockville, where the retailer occupies a 48,000-square-foot space. The Federal Realty-owned shopping center lost a store when Hudson Trail Outfitters, a locally owned chain of outdoor apparel stores, closed its store there in September.
Hudson Trail closed its 20,800-square-foot space after the Gaithersburg-based business’s CEO cited the changing retail landscape in the decision to close its stores after 50 years in business.
Montrose Crossing is anchored by a Giant grocery store and Bob’s Discount Furniture, but Sports Authority is its third-largest tenant, followed by Barnes and Noble, according to Federal Realty’s tenant listing.
“As Sports Authority moves through the resolution of its remaining locations, we will be following it closely,” Mickey Papillon, director of asset management for Federal Realty said. “In the even we are able to get the Montrose Crossing location back, we would welcome the opportunity to improve the tenancy and shopping experience there long term. Regarding the space vacated by Hudson Trail, we have strong interest in the space, but per policy, are not able to share details at this time.”
Sports Authority announced it would close its Gaithersburg store at 110 Odendhal Ave. as part of the closure of 140 stores under the original bankruptcy reorganization plan, but as of Monday it remained open and an employee said no closure date has been scheduled.