Business & Tech
Sports Authority Shutting Hazlet Store: Report
Manalapan outpost was already on the chopping block and now Hazlet, West Long Branch to shutter, as retailer closes all stores nationwide.
Hazlet, NJ - It's gone from bad to worse for Sports Authority.
The troubled retailer is closing every single store across the country, including the 16 remaining stores it had open in New Jersey. That's more than 450 stores nationwide, including the Hazlet location just off Rt. 35, and the West Long Branch Sports Authority. In early March, the chain already announced it would close the Manalapan location.
Manalapan was one of 5 stores in New Jersey to close: East Brunswick, Manalapan, Piscataway, Wayne and Cherry Hill.
Find out what's happening in Holmdel-Hazletfor free with the latest updates from Patch.
At the time, it was planned that the chain's remaining 16 stores in New Jersey would stay open, and the Hazlet and West Long Branch locations remained in operation.
But on Monday, it was revealed that Sports Authority is carrying over $1 billion in debt, reports Forbes, and has decided to liquidate all assets and pursue a sale. The company said earlier this year that it had missed a $20 million debt payment. A $300 million payment is due in May 2017, according to BusinessInsider.com.
Find out what's happening in Holmdel-Hazletfor free with the latest updates from Patch.
The company employs over 14,500 people.
There is no word on when the stores will be shuttering.
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