INDIAN RIVER COUNTY — The Sports Authority store in Vero Beach could be one of 450 casualties after the company decided to liquidate rather than reorganize under Chapter 11 bankruptcy protection.
While it’s possible that buyers could snap up some locations nationwide during Sports Authority’s asset auction later this month, many stores are expected to be shuttered.
The company has more than $1.1 billion in debt, according to Forbes, and is unable to reorganize.
The Vero Beach Sports Authority opened to much fanfare in August 2011 with more than 300 people waiting to be the first to enter the store.
When the 34,000-square-foot store first opened, it employed more than 40 people. How many currently work at the store was not immediately known.
