JD Sports buys back Go Outdoors from administrator as it begins unit restructuring
Reuters
Published Jun 23, 2020 01:32PM ET
(Reuters) - Retailer JD Sports (L:JD) said on Tuesday it had appointed Deloitte as administrator for its loss-making outdoor clothing business that has been struggling with falling demand, and will begin a restructuring of the unit.
London-listed JD Sports said it had brought back the business, Go Outdoors, and all its assets from the administrator for 56.5 million pounds ($70.7 million) via a new subsidiary as part of a so-called pre-pack administration deal.
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Written By: Reuters
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