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![Photo: Sports Authority store in New York (AP Photo)](https://wp-cpr.s3.amazonaws.com/uploads/2019/06/ap_1603021617081625-1.jpg)
The company had planned to close some stores, reorganize debt and stay in business. But at a bankruptcy hearing Tuesday, it came out that the retailer will shut down completely.
The company headquartered in Englewood was more than $1 billion in debt when it filed for bankruptcy last month. Sports Authority’s closing makes it possible the Denver Broncos’ stadium will have a new sponsor next season.