Sporting goods store Sports Authority announced on Wednesday that it, along with several of its affiliates, has filed for Chapter 11 bankruptcy. The filing will allow the organization to restructure to achieve better financial positioning going forward. Almost all consumer-facing aspects of the store will remain relatively untouched, including store hours, online shopping, and the store’s loyalty program.
Under Chapter 11, an organization proposes a plan of reorganization to continue operations while gradually paying off....