JD Sports has acquired Go Outdoors from administrators Michael Magnay and Daniel Butters of Deloitte in a pre-pack deal. The retail group paid £56.5 million and will look to retain all 67 of its Go Outdoors stores for 12 months as it works to agree improved lease terms with landlords.
“As a consequence of COVID-19, Go Outdoors was no longer viable as previously structured and would have absorbed capital at an unsustainable rate for the foreseeable future,” Peter Cowgill, executive chairman. JD Sports said. Adding: “Having investigated all available options for the business. we firmly believe that this restructuring will provide Go Outdoors with a platform from which it can make progress whilst remaining a member of the group. Most importantly, we are pleased that it will protect the maximum number of jobs possible.”
Share