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Sports Authority files for Chapter 11 reorganization

Sports Authority filed for Chapter 11 bankruptcy reorganization Wednesday, with plans to shutter two distribution centers and 140 of its 464 stores. The retailer has secured $595 million in financing to fund operations, and aims to reduce its $1.1 billion debt load and streamline operations. The company will cut about 3,400 jobs, and it notified affected employees on Feb. 10. Read The Denver Post story here

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