National Sports Attraction LLC, which operated the Sports Museum of America in New York City, has filed for Chapter 7 bankruptcy, setting the stage to liquidate its assets.
The for-profit museum, a $100 million facility opened last May, had struggled with low attendance, and closed its doors in February. It was intended to be the permanent home of the Heisman Trophy, college football’s top honor.
The museum filed for bankruptcy protection on March 13 in U.S. bankruptcy court in Manhattan, listing assets of $55.6 million and total debt of $177 million.
The museum also housed the Billie Jean King International Women’s Sports Center, named after the tennis champion, and a collection of memorabilia on loan from individuals and sports organizations across the United States.