JD Sports has bought back its Go Outdoors business for £56.5 million after pushing it into administration. Go Outdoors sells camping, fishing and cycling equipment and employs about 2,400 staff. JD Sports is set to reacquire Go Outdoors out of administration in a move to restructure the outdoor clothing and equipment retailer and "preserve as many jobs as possible". Wassailing, Salt and Seals. Shoe chain Aldo has also collapsed, while Quiz clothing has put its shop business into administration. JD sparked uproar by dumping Go Outdoors into administration before buying it back. GO Outdoors was put into administration by its owner, JD Group, on 23 June 2020, but promptly purchased back afterwards.A new, simplified logo was revealed shortly after this … It accounts for 5% of the group’s annual revenue. If you are dissatisfied with the response provided you can contact IPSO here. JD Sports, who own the company, said the move will “preserve as many jobs as possible” at the troubled retailer, which sells waterproof clothing, bikes and camping products. JD Sports bought Go Outdoors in 2016 for £112 million. The BBC is not responsible for … View our online Press Pack. JD Sports added that all existing staff will be transferred as part of the pre-pack administration sale. You can make a complaint by using the ‘report this post’ link . Shares in JD Sports dropped almost two per cent as trading started in London this morning, June 22. JD Sports has bought its subsidiary Go Outdoors back for £56.5m in a bid to renegotiate better rents with landlords after putting the business into administration earlier this week. In a statement on the London Stock Exchange website, JD Sports Fashion PLC said: "The Group can confirm that it has considered a number of strategic options for Go Outdoors and that Go Outdoors' directors have lodged the Notice in Court. At the time of writing, Go Outdoors has reopened 64 of its UK shops, with just three still listed as closed in Hathersage, Oxford and Southport. As a subscriber, you are shown 80% less display advertising when reading our articles. We've got a full round-up of all the shops and restaurants that have gone bust here. Found something we sell cheaper? The owner of Go Outdoors has bought back the business for £56.5 million after pushing it into administration. Michael Magnay, joint administrator, added: “Like many high street retailers, Go Outdoors Ltd has been seeking to address a number of underlying business challenges in the current UK retail environment, which have been exacerbated by the impact of Covid-19. The move could … Michael Magnay and Daniel Butters of Deloitte were appointed as joint administrators of Go outdoors yesterday (23 June 2020). But the outdoor activities retailer has been struggling long before the pandemic - it lost £54.9 million in the six months to August 3 last year. For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/, Comments are subject to our community guidelines, which can be viewed, Go Outdoors could be the next retailer to fall into administration, Shoppers queue with social distancing measures as high street reopens in UK, shops and restaurants that have gone bust, Independent Press Standards Organisation (IPSO). It said the move will “preserve as many jobs as possible” at the troubled retailer, which sells waterproof clothing, bikes and camping products. Get involved with the news in your community, This website and associated newspapers adhere to the Independent Press Standards Organisation's Editors' Code of Practice. JD Sports is preparing for a possible pre-pack administration of Go Outdoors after the retailer was laid low by the lockdown.The FTSE 100 sportswear and … JD Sports Fashion is launching an insolvency process at Go Outdoors four years after buying it, Sky News learns. But according to the letter from UK Outdoors, which represents 15,000 people and organisations, the continuing freeze on residential school trips … The BBC is not responsible for the content of external sites. It said the move would "preserve as many jobs as possible" at Go Outdoors, which sells waterproof clothing, bikes and camping products. Wassailing, Salt and Seals. The 12,000 jobs at Debenhams are set to go over the coming months unless the administrators do a deal for all or parts of the business. The chain has a large store in Old Abingdon Road, Oxford. Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. The Go Outdoors camping stores chain is going into administration. Today, the Baker-Polito Administration announced that on Friday, November 27, 2020, the Department of Conservation and Recreation (DCR) will recommend six different hikes as part of the agency’s annual “Go Green on Black Friday” campaign, which encourages residents and visitors to venture outdoors and enjoy the natural resources of the Commonwealth on the day … On Saturday, Sky News had exclusively revealed that Go Outdoors was on the brink of administration - four years after retail giant JD Sports Fashion first bought it for £100m. Available now. 2020-06-24T06:28:00+01:00 By Grace Bowden. JD Sports said it considered potential options for the chain, which has 67 stores nationwide, in May, including a potential sale. High Street DVD rental firm Blockbuster has announced that it is to go into administration. Go Outdoors’ 2,400 staff have been handed a temporary reprieve, after the collapsed company was sold out of administration by professional services firm Deloitte. … "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. Boris Johnson is being urged to end a lockdown block on residential school visits or risk destroying the "great British tradition" of outdoor education. Picture: Newsquest. I am still waiting for the £65 refund, the clamp and the tools 25 days on. The … We'll beat it by 10% To see all content on The Sun, please use the Site Map. Newsquest Digital Content Team. Go Outdoors Go Outdoors' owner has called in administrators for the business as the effects of coronavirus piles pressure on High Street retailers. We may then apply our discretion under the user terms to amend or delete comments. HP10 9TY | 01676637 | Registered in England & Wales. “I’m particularly pleased that we have been able to secure the employment of all the Company’s workforce, and we’d like to thank all employees and key stakeholders for their support throughout this process.”. Exploring the great Scottish outdoors. JD Sports, which owns the chain which has a large store in Gloucester, said it had looked into options for Go Outdoors and that administration seemed to be the way forward, as reported by the BBC. , London, SE1 9GF and Conditions in accordance with our Privacy & Policy. Our discretion under the user Terms to amend or delete comments determined the! For £112million, revenue, financials, executives, subsidiaries and more enable local businesses need as support! Of collapsing into administration, in what would be the latest in a long list of businesses to be trouble!, it employs around 2,300 people at 67 stores, which sells,... 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