Posted on Tuesday, June 14th, 2016 at 7:00 am
You may have heard that Sports Authority has announced that it is going out of business. It will close all of its 450 Sports Authority stores nationwide. What does this mean for shoppers who have coupons, gift cards, or who want to try and get a good deal before the store closes?
The first thing to understand is that Sports Authority is closing all of its stores after it made a failed attempt to reorganize under Chapter 11 bankruptcy protection. The result is that all Sports Authority stores will be closing, forever. You should not expect that they will reappear under a different owner. This is the end.
What this Means for You
You should make an effort to spend whatever amount is on your Sports Authority gift cards as soon as possible. Wait too long, and you will lose whatever amount is on them (because you can’t use a gift card from a chain store that has closed). ABC News reported that Sports Authority will honor their gift cards both online, and in their stores, through June 28, 2016.
Exchanges and Returns
Do you need to exchange something you bought at Sports Authority for a different size? Is there an item you recently purchased from the store and need to return? Again, you should try and get that done right away. Returns and exchanges will be allowed in the Sports Authority stores (but not necessarily online) through June 28, 2016.
One thing to keep in mind is that the Sports Authority stores are in the process of selling off as much stock as possible. This could cause difficulty for those who want to exchange an item for a different size. Sports Authority may have sold out of your size before you get there!
It is typical for stores that are going out of business to have big sales. Some of those sales have already begun, and all of them are expected to end around August 31, 2016. Keep in mind that not all markdowns are a great deal. The closer the store gets to the end, the larger the sales will be. Take a close look at the product before you buy it. Everything is being sold “as is” and you probably cannot return it if you find a defect later.
Be careful when using coupons. There have been some situations where a person used a Sports Authority coupon – only to have the cashier deny it. The problem seems to be that some coupons have fine print that states the coupon cannot be used on clearance items. Or, the store may be refusing coupons because it is in the process of liquidation.