Fire Sales at the Sports Authority

WILMINGTON, Del. (CN) – The Sports Authority was expected to begin liquidation sales Friday in some of the 140 stores it will close under its Chapter 11 bankruptcy.     The Colorado-based chain cited more than $1 billion in debt in its bankruptcy filing Wednesday.     Slated for closing are 25 stores in Texas, 19 in California, 18 in Florida, 11 in Illinois, eight in New York and seven in Arizona.     Dick’s Sporting Goods has been named as an expected purchaser of some of the stores.