The Beginning Of The End For Sports Authority Cheyenne
Everything must go, right down to the jobs…
The Sports Authority store in the Frontier Mall in Cheyenne could hold its own financially but the corporate heads have decided shut all of their 460 stores down permanently. One employee seemed down but still professional. The company is not heartless in killing the stores and jobs of it’s employees, some 17 in Cheyenne. Unnamed employee "Joe" said they are setting up recruiters and other assistance for those that will be with jobs by August 1st, 2016.
It all comes on the heels of their Chapter 11 bankruptcy filed in March. As late as last week there was hope, but that is gone and the end is coming. Make way for the liquidator group. The clearance sale starts Thursday, May 26 with 10 – 30% off select merchandise and will broaden is scope and discount as supplies dwindle.
Don’t look for hand guns, they don’t carry them, by corporate decision. Don’t look for fishing gear, they don’t carry any, by corporate decision. IN WYOMING! Maybe if they sold those here, they could make more money. And then there's the high cost of the naming rights in Denver.
The 76,125-seat NFL stadium that is home to The Denver Broncos will likely remain “Mile High Stadium’ in people’s minds, but could undergo a name change with Sports Authority Field at Mile High, losing a tenuous grip on their naming rights with their next $6 Million payment due in August. Their initial investment cost them $13.07 Million for a 25 year deal.
Native Roots, a 14 outlet marijuana dispensary in Colorado wants to keep the “high” in the stadium and has expressed interest in taking over where Sports Authority leaves off with Native Roots Stadium at Mile High. Interesting because marijuana is illegal under federal law and marijuana is banned by the NFL.
It may be that Sports Authority wishes they would have lost the naming rights battle of 2011, to Dick’s Sporting Goods, who may have actually been able to properly leverage the sponsorship.
That said, all that money for naming rights could have gone a long way to cover employee salaries, with a tiny fraction of that in Cheyenne. Mr. Unnamed Employee thinks the store would succeed if it weren't for the actions from on high.
17 people will be needing jobs sooner or as late as August 1st. Good luck to those who worked so hard at Sports Authority. We, the people also lose an outlet for soccer and baseball equipment. It has been destination shopping from far away instate and out. We lose choice and more, because of company decisions. At least they seem to be willing to help the employees.