March 4, 2016 By Michael Florio
The two Queens Sports Authority locations are safe from closures that will hit more than 140 of the company’s stores nationwide.
Sports Authority announced this week that it has filed for Chapter 11 bankruptcy and will be closing about a third of its stores.
The Queens stores, located at 51-30 Northern Blvd. in Woodside and at 73-25 Woodhaven Blvd. in Glendale, are not included in a bankruptcy court document that lists the 140 shops that will be closing.
The sporting goods chain has struggled in recent years, according to Wall Street analysts. The company has lost market share to online retailers, become swamped with $1.1 billion in debt and has failed to keep pace with consumer trends, such as golf’s decline in popularity.
Sports Authority CEO Michael Foss is looking to use bankruptcy protection to give the troubled company a second chance.
“We have a long-term plan to streamline and strengthen our business so we can continue to make necessary investments in our operations, including upgrading our in-store experience and enhancing our website,” he said in a statement.