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Sports Authority to Close Headquarters, Cutting Hundreds of Jobs

The game is officially over for Sports Authority.

The bankrupt sporting goods retailer told the Colorado Department of Labor and Employment Wednesday that it would close its Englewood-based headquarters on June 3, cutting 461 jobs in the process, the Denver Post reported.

In other news, Sports Authority began going-out-of-business sales at all 450 store locations Thursday, slashing prices on a wide range of athletic accessories, apparel and footwear.

“Words cannot adequately express the disappointment we feel with the need to shut down our stores. We sincerely thank our loyal customers for supporting our company over the years and encourage them to shop early for tremendous values on their favorite sporting good products,” CEO Michael Foss said.

Sports Authority had filed for Chapter 11 bankruptcy in March, but failed to reach a deal with creditors and lenders. Last week, a trio of liquidators (Hilco Global, Tiger Capital Group and Gordon Brothers) won the retailer’s inventory in an auction, agreeing to pay 101 percent of the cost plus a $1.8 million augment guarantee.