A shopper at a Sports Authority store.(Photo: TIM BOYLE | GETTY IMAGES)
DENVER BUSINESS JOURNAL - Sports Authority, the Englewood-based sporting goods retailer, this week
laid off approximately 100 positions at its corporate office, the company confirmed Friday.
The company has reportedly been struggling financially, and skipped an interest payment on a $343 million loan that matures in 2018, according to Bloomberg.
"Sports Authority and its advisors continue to work toward a balance sheet restructuring that will reduce the level of the company's debt," a company spokesperson said in a statement provided to the Business Journal. "We remain very focused on implementing a comprehensive operational plan that will support this effort while improving our ability to engage with our customers in stores and online."
"As part of this plan there was a workforce reduction of approximately 100 positions this week, primarily at our corporate headquarters. While this action was difficult, we believe this was a necessary step in our plan to return Sports Authority to long-term profitable growth," the spokesperson said.
Read more at the Denver Business Journal: http://bit.ly/20bZzEc
(© 2016 American City Business Journals. All rights reserved.)