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Cramer explains how Sports Authority’s bankruptcy cast a shadow on athletic retail

“In short, the Sports Authority bankruptcy brought lasting damage to the brick-and-mortar vein of sporting goods retail, the “Mad Money” host said” writes Elizabeth Gurdus for cnbc.com. Since Sports Authority went bankrupt in 2016, CNBC’s Jim Cramer has watched the sports retail and athletic wear cohort endure widespread weakness.Cramer argued that Sports Authority’s demise, which began with a leveraged buyout and ended with a botched restructuring program and crushing debt, cast a visible shadow on the sports retail industry.”In retrospect, the bankruptcy of Sports Authority was a watershed moment for the athletic wear group,” the “Mad Money” host concluded.
 
Source: cnbc.com



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