Sports Authority Reaches Settlement With Suppliers
The drama between Sports Authority Holdings Inc. and consignment suppliers is coming to an end with a settlement that looks to resolve more than 160 lawsuits. Sellers of shoes, gloves and other winter gear sold on consignment sought the return of their goods after Sports Authority filed for bankruptcy last month. The retailer, which is liquidating some 140 stores, said it needed the gear to sell at its remaining stores and sued the consignment sellers to block them from seizing the products. The dispute revolves around about $85 million worth of winter gear currently being sold at the struggling retailer's stores.