Report: Sports Authority could close all stores

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Shopping at the Sports Authority may be a thing of the past. Forbes.com is reporting the sporting goods chain could be closing up shop.
 
The site said the company notified the U.S. Bankruptcy Court in Delaware it won't be able to reorganize. Instead, it'll sell most of its assets in a May 16 auction, and all 450 stores could be liquidated.
 
Last March, Sports Authority filed for Chapter 11 bankruptcy protection and said it would close 140 stores and two distribution centers.
 
The retailer has more than $1.1 billion in debt.
 
Sports Authority's website says it has 11 stores within 50 miles of Center City Philadelphia.
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