Sports Authority May Close All 450 Stores, Report Says

NEW YORK (CBS) – The end of the road may be near for Sports Authority.

Forbes reports that the sporting goods retailer is giving up on an attempt to reorganize under Chapter 11 bankruptcy protection.

That means much of the company's holdings will go up for auction later this month.

"While buyers could emerge who would keep the doors open in at least some locations, it's possible that all 450 stores could be liquidated," Forbes writes.

In March, Sports Authority announced it would be closing several stores in New England as it filed for bankruptcy protection, including three in Massachusetts.