Sports Authority Auctions Off Assets

Sports Authority (Englewood, Colo.) has auctioned off its assets, with the winning bid being placed by a group of liquidators that includes Tiger Capital Group (New York), Hilco Global (Northbrook, Ill.) and Gordon Brothers (Boston).

Tiger Capital and Gordon Brothers are already involved in liquidating the 140 stores that the retailer had previously planned on closing.

According to The Wall Street Journal, the bid covers 101 percent of the cost of Sports Authority's inventory plus a $1.8 million “augment guarantee,” though the total amount wasn’t disclosed.

The retailer intends to hold additional auctions to sell off its brand and intellectual property.