Unsecured creditors seek quick liquidation of former sporting goods giant

Unsecured creditors of Sports Authority said in court papers that the bankrupt retailer should not waste its dwindling funds preparing a plan to end its Chapter 11.



The unsecured creditors argued the company, which filed Chapter 11 in March, is "administratively insolvent," meaning it cannot even pay the cost of running its bankruptcy case, Reuters reported.



The creditors want to convert the case to a quick liquidation, the report said.



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