With the news that sporting goods retail giant Sports Authority is seeking permission from a bankruptcy judge to close all of its 450 store locations, Attorney General Peter F. Kilmartin wants consumers to know what this may mean for them. Sports Authority currently operates three locations in Rhode Island (Warwick, Middletown, and Narragansett). When the company filed Chapter 11 in March, it initially indicated it would close 140 stores and two distribution centers. The three locations in Rhode Island were not expected to be affected by the initial Chapter 11 filing.
But, with the news that the company is shuttering its plan to reorganize under bankruptcy protection and seeking to close all 450 stores nationwide, or auction some stores off, it is likely the three stores in Rhode Island will now close, although no date has been set for their closure.
With the latest news, Attorney General Kilmartin suggests that consumers who may have a Sports Authority gift card or store credit, to use it before it loses its value," said Attorney General Kilmartin.
Kilmartin also suggests consumers return any unwanted items before the stores close or change return policies, and to inquire as to what, if anything, will happen to warranties purchased through the retailer.
Finally, while consumers may see deep discounts on items sold at Sports Authority before the stores close, they should be sure to ask understand the return policy before making the purchase.