Sports Authority Is Bankrupt; How Did The Sports Retail Giant Fall? - NewsyPeople enter a Sports Authority store, in New York, Wednesday, March 2, 2016. Sports Authority is filing for Chapter 11 bankruptcy protection.(Photo: Richard Drew, AP)Sports Authority plans to begin liquidation sales as soon as Friday at about 140stores that are set to close as part of its Chapter 11 bankruptcy.The Englewood, Colo.-based chain ownedby...