Posted on 04/29/2016 6:54:23 PM PDT by kaehurowing
Why Sports Authority is throwing in the towel and closing all of its stores
When struggling retailer Sports Authority filed for Chapter 11 bankruptcy last month in the face of more than $1 billion in debt, the company indicated that it had two options going forward.
One of those was to shed underperforming stores and emerge from bankruptcy as an intact, but pared-down company. The other was to sell everything and cease operating.
On Tuesday, the company appeared to choose the latter.
. . .
“With the minimum wage going up to $15 an hour and more people turning to online shopping, more stores are going to close,” Lempert said. “It’s fine to say that everyone should have a living wage. But the money has to come from somewhere.”
(Excerpt) Read more at pasadenastarnews.com ...
It was the curse of buying naming rights to a stadium. In this case, Mile High stadium in Denver, CO.
Economics 101
No loss for me as I buy on Amazon.
I haven’t been in a mortar and brick store for years.
With all of these retailers closing their doors, this should do away with the transvestite going wee wee in the ladies room problem. The trannies can shop online and use their own bathroom
Atlas Shrugged
I actually went to Denver in November last year, when the Packers got their asses kicked. I had a great time though. Had this Bison chili at one of the local pubs, totally delicious.
Hopefully someone will learn this lesson from this story. Its a simple but powerful truth, that if we want to raise the minimum wage, that the money to pay that increase has to come from somewhere.
Liberals sometimes don’t grasp simple.concepts such as that.
I once went into a Sports Authority to look for hockey gear. They didn’t have any. I left.
“It’s fine to say that everyone should have a living wage. But the money has to come from somewhere.”
This isn’t true. Bernie Sanders said so. We just need to tax the rich some more.
Having your brand name on a stadium is just so stupid anyway. For all the money they paid for that they could have just dropped their prices a little and made more profit.
Latest move by liberals & recreation executives, show there’ll be little left, but *Dicks...
RE: “
Minimum wage increases kill off Sports Authority. Stupid leftist legislation has consequences.”
*Dicks Sports, Inc that is.
Problem here is that Sports Authority put all the other sporting goods stores out of business. If they go, there will be no sporting goods stores in our entire city.
Good riddance to a crappy store, IMO.
In Denver it will always be “Mile High Stadium”. The only ones that used “Sports Authority field at Mile High” were the broadcasters, who were forced to use it by contract. And the team will probably sell the naming rights again to someone else. The leading contender is a legal weed operation, only half in jest.
I hate Dicks sporting goods stores. Overpriced, for one thing.
I remember Montgomery Ward, selling merchandise through catalogs. Now, people are doing essentially the same thing through online catalogs. No matter how much things change, they stay the same.
“It was the curse of buying naming rights to a stadium. In this case, Mile High stadium in Denver, CO.
—
?
.
“Money has to come from somewhere” Wow! What a concept. Lotta folks out kicking down barricades, torching cop cars, etc. who have NO IDEA. And not only does the money to keep open and operate a business have to come from somewhere, so does the money to support things like food stamps, subsidized housing, school lunches, medicaid, etc., etc., etc.
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