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Sports Authority 'not going anywhere,' despite Forbes report By Greg Stiles Mail Tribune Follow @@GregMTBusiness MailTribune.com By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted May. 4, 2016 @ 11:31 am Updated May 4, 2016 at 1:43 PM By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted May. 4, 2016 @ 11:31 am Updated May 4, 2016 at 1:43 PM » Social News p bs:newslist StartDate="20121121" EndDate="p bs:datecalc Months="3"" DateSort="1" UseObjects="1" ObjectClass="81" Taxonomywords="2325,665" ExactTaxonomyMatch="1" Image="1" Count="4" --> News that hit the wires last week of Sports Authority's pending doom were, as Mark Twain wrote concerning reports of his own demise, greatly exaggerated. Forbes reported that a U.S. Bankruptcy Court judge in Delaware wouldn't sign off on a financing deal for the Englewood, Colo.-based, privately held firm, leaving Sports Authority few options but liquidation. Soon every major print and broadcast news outlet was relaying the report. "It spread like wildfire," said Chris Van Horn, who manages the Medford Sports Authority store in the Rogue Valley Mall. "But this store is not going anywhere." The retailer, owned by Los Angeles-based private equity firm Leonard Green & Partners, missed a $21 million interest payment on its $643 million in debt in January. The company filed for Chapter 11 reorganization in March, announcing it was closing or selling nearly a third of its more than 450 stores, including those in Klamath Falls, Roseburg, Hillsboro, Salem and Redding, Calif. This week, Sports Authority CEO Michael Foss issued a statement to the company's customers, reassuring them the remaining stores and online sales are operating on normal schedules. "We continue to move forward with this process, which we expect will be completed by the end of June," Foss stated. "The majority of our stores remain open on normal schedules and you can continue to shop on SportsAuthority.com as you always have." Judge Mary Walrath could have forced the retail giant into Chapter 7 liquidation, the Denver Post reported, when she struck down $595 million in bankruptcy financing that did not account for rent and administrative fees. But Sports Authority and its lenders ironed out a debtor-in-possession financing agreement that accounted for those requests. On Tuesday, Sports Authority attorney Robert Klyman told the court the company can pursue discussions with several parties that expressed interest in buying all or most of the company's assets. "The liquidation word is not in our vocabulary," Klyman said. Van Horn said he wasn't worried by the spreading story. "I heard about it before it got out," he said. "What we're hearing now seems like encouraging information." Reach reporter Greg Stiles at 541-776-4463 or [email protected] . Follow him on Twitter at www.twitter.com/GregMTBusiness , on Facebook at www.facebook.com/greg.stiles.31 . By Greg Stiles Mail Tribune Follow @@GregMTBusiness MailTribune.com By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted May. 4, 2016 @ 11:31 am Updated May 4, 2016 at 1:43 PM » Comment or view comments Terms of Service /* $( document ).ready(function() { // Jquery mobile is trying to style the button and leaving a blank gry button on top of a white button $("#viafouracoms .vf-comment-controls li.vf-right").html(' Submit '); });*/ » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. 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