What's Next for Sports Authority?

This week's announcement that Sports Authority may soon close all of its more than 450 locations has many consumers wondering if they'll see big end-of-business sales in the near future.

"At least 140 stores will be liquidating which generally involves a going-out-of-business retail sale approach where discounts grow each week of the liquidation period," said Greg Charleston, a senior managing director at Conway MacKenzie Inc. and leader of the firm's Atlanta regional office. "The entity is liquidating. But it is possible that some of the stores will be purchased and remain open under The Sports Authority name."

Sports Authority has 10 locations in Georgia communities, including Alpharetta, Northlake, Buckhead, Cumberland, Perimeter Pointe, Buford, Conyers, Gwinnett, Hiram and Kennesaw. The company employs over 14,500 people nationwide.

In March, the company announced a Chapter 11 bankruptcy filing that included selling off more than 140 locations across the country, along with two distribution centers.

With more than $1 billion in debt, the company has decided to liquidate all assets and pursue a sale, according to Forbes.

Charleston, a Certified Turnaround Professional, CPA and financial analyst, said Sports Authority's ills are faced by many traditional, big-box retailers.

"The challenge of all brick-and-mortar retailers is immense," he said. "The growing trend of online sales at a very competitive price is eating into market share of most retailers. This is especially true of big-box retailers that pay high rent and carry millions of dollars of inventory.

"It is hard to tell exactly what the future holds for all retailers but I believe that online sales will continue to grow and brick-and-mortar retailers will continue to exit the industry."