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.READ MORE: Jerry Remy 'Resting Comfortably' At Hospital After Experiencing 'Shortness Of Breath' During Red Sox Telecast Friday
That means much of the company’s holdings will go up for auction later this month.READ MORE: Woburn Man Shot In Neck; Police Say Shooting May Have Been 'Accidental Or Unintentional'
“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.MORE NEWS: Steamship Authority Website Running Again After Ransomware Attack Last Week
In March, Sports Authority announced it would be closing several stores in New England as it filed for bankruptcy protection, including three in Massachusetts.