May 2, 2016 12:21 PM
NASHUA - The struggling sporting goods chain Sports Authority will likely close its Nashua location and the fate of its other three stores are in doubt.
The sporting goods retailer is carrying more than $1 billion in debt and will not reorganize the company said during a bankruptcy hearing.
Sports Authority has locations in Nashua, Salem, Manchester and Amherst. Nashua was already set to close, but according to Fortune magazine the chain will auction off all its assets May 16.
The company is liquidating all 450 of its stores and will likely shut down in the coming months.
The Colorado-based chain has been hurt by competition from Amazon and Dick’s Sporting Goods over the last several years.
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