Another big sporting goods retailer is on the verge of shutting down across the country.

Sports Authority is in the process of selling off its assets, and says it may close all of its stores across the country unless a last-minute buyer materializes.

The company is more than $1 billion dollars in debt and has filed for bankruptcy.

The local Sports Authority in Torrance, located on Torrance Boulevard, reports that for now it is business as usual, and they have not made any announcements about closing down.

A company official said that there are nearly seven more court dates coming up with regard to this case.

Sports Authority had nearly 14,000 full- and part-time employees nationwide when they first filed for bankruptcy. It was considered the country’s largest sporting goods retailer.

Originally, the retailer planned to close only 140 stores, but now court documents show that they will liquidate all assets by closing down nearly 450 stores.