Bankruptcy Judge Mary Walrath yesterday refused to allow Sports Authority to pay up to $2.85 million in bonuses to four executives for overseeing the winding down of the national sporting goods chain, Reuters reported. Englewood, Colo.-based Sports Authority filed for bankruptcy in March with hopes of keeping some of its 464 stores open, but battles among lenders and suppliers eventually scuttled those plans. Its final stores closed last month. "I think it’s just inappropriate to pay senior executives a bonus when all the employees are losing their jobs," Judge Walrath said during a hearing. Sports Authority said that the bonuses were essential to ensure executives squeeze the most value out of its assets by adhering to a budget and preventing waste.
