Sports Authority could file for Chapter 11 bankruptcy as early as March. 

Craig Ganz, a bankruptcy attorney in Phoenix for Ballard Spahr, said Sports Authority has about 17 locations in Arizona, and the filing likely would mean the sports retailer will shut half of its stores in the state.

The company missed a Feb. 14 deadline to pay $20 million in interest on a $343 million loan that matures in 2018 and in January laid off 100 people at headquarters.

Ganz said Sports Authority had until about Feb. 15 to work out those loans with the lender, and the retailer had another $300 million loan due in May.