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Sports Authority is bankrupt and closing 140 stores

Sports Authority filed for bankruptcy early Wednesday and said it will close 140 stores, nearly a third of its total.

The bankruptcy has been looming since January, when the company disclosed that it had missed a $20 million debt payment.

The store closings will take place over the next three months. The stores to be closed have yet to be disclosed. The bankruptcy filing will allow it to break…

VIDEO: Failed Bitcoin Exchange Mt Gox Gets U.S. Bankruptcy Protection

The failed Tokyo-based bitcoin exchange, Mt Gox, received court approval on Tuesday to begin Chapter 15 bankruptcy proceedings in the United States, as it awaits approval of a settlement with U.S. customers and a sale of its business. Mt Gox was once the world’s leading exchange for trading the digital currency, but shut its website earlier this year after saying it lost some 850,000 bitcoins,…