Sports Authority shutting down with giant going-out-of-business sale

Sports Authority, in planning to close all of its stores,is set to launch its going-out-of-business sales this week, according to court documents.

In shutting down, the 463-store chain becomes the latest casualty among rivals for the sporting-good business. It follows the recently announced closure of the Sport Chalet chain, based on the West Coast. While sporting goods and athletic wear sales are growing, traditional retailers like the two chains have been hurt by competition from online.