Sporting goods retailer Sports Authority, which reportedly is considering filing for bankruptcy and closing as many as 200 stores, may be planning to close its Rochester store.
An employee tells me that the 33,000-square-foot store at 80 25th St. SE, which has been open in the Broadway Commons commercial center since 2001, is being prepped for closure, possibly in about six weeks. I have calls in to the corporate office in Englewood, Colo., but haven't received callbacks.
If the store were to close, it wouldn't be a shocker amid national news that the retailer may file for bankruptcy protection after failing to make a $20 million payment on a $343 million loan. The company announced it may close as many as 200 of its more than 450 stores.
In 2014, Sports Authority ranked fourth with $3.4 billion in revenue among U.S. sporting goods chains. Dick'sis the leader with with 603 stores nationwide, including one in Rochester, and $6.5 billion in revenue. Academy Sportsranked second and Bass Pro Shopcame in third.
Sports Authority has 470 stores, according to Statista. According to a Moody's research note, Sports Authority reported more than $2.6 billion in revenue for the 12-month period that ended in October.
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The Broadway Commons center, which also features Kohl's, changed hands in January, when Austin, Texas-based EREP Broadway Commonsbought the 131,931-square-foot retail complex for $14.5 million. They bought it from Inland Private Capital Program, of Oak Brook, Ill.
The 15-year-old shopping center was appraised at $15 million, according to state documents. Inland originally acquired the property in 2002 for $16 million. Olmsted County estimated its 2016 market value at $11.23 million.
It originally was built by Wisconsin-based Continental Propertiesin 2001. -- Jeff Kiger
