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Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Liquidate means to convert assets into cash or equivalents by selling them on the open market.2.When an entity chooses or is forced by a legal judgment or contract to turn assets into a "liquid" form (cash). An individual may choose to liquidate his or her possessions or investments to pay off creditors, convert assets to cash for spending or because the investments are not going to increase in value and the investor wants to re-allocate funds.2.
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After declaring bankruptcy in early March, athletic apparel and gear chain Sports Authority will liquidate its assets, reports The Los Angeles Times.
The company was originally considering a reorganization plan to keep the brand alive, but will instead auction it off, potentially in pieces.
Rumors were circulating for the past few months that the retailer was at high risk of defaulting on a $300 million loan that is due in May 2017.
The retailer was also failing to perform in the face of fierce competition.
Sports Authority annual revenues hover around $2.7 billion, which is roughly the same as it was in 2006.
After filing for Chapter 11 bankruptcy last month, competitors like Dick's Sporting Goods and Modell's showed interest in picking up some of Sports Authority's store locations and intellectual property.
This news comes at a time when sports apparel is growing in popularity thanks to "athleisure" — a fashion trend in which people wear athletic clothes outside of a gym setting, like at the office or while shopping.
As a result, long-standing athletic brands and retailers are struggling to reach consumers who are increasingly turning to the web to make their fashionable purchases.
We believe that this burst of competition is starting to shake up the industry, making room for new players that are more equipped to reach today's e-commerce consumers.Tags: Adult Dating, affair dating, sex dating