Sports Authority Said to Plan Bankruptcy Filing Within DaysBy
Sports Authority Inc. is planning to file for bankruptcy within the next few days, assuming it can finalize terms for a loan to keep it operating during court proceedings, according to people with knowledge of the matter.
The retailer is sorting out details on the loan, known as debtor-in-possession financing, said the people, who asked not to be identified because the talks are private. Lenders such as Wellington Management and Blackstone Group’s credit unit GSO Capital Partners are considering providing the financing, two of the people said. They are two of the holders of Sports Authority’s $300 million term debt maturing November 2017…
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