Sports Authority Files for Bankruptcy Protection – Wall Street Journal

Sports Authority Inc. on Wednesday filed for chapter 11 bankruptcy protection and said it would close 140 stores, as the big-box chain struggles with a shift to online shopping.

The retailer, which has about 450 stores, could shut down in the coming weeks unless it finds a buyer for the rest of its business, according to people familiar with the matter.

In a news release, Chief Executive Michael E. Foss said Sports Authority…