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23 Jan 2021

The firm confirmed that it intends to “retain the majority” of its retail stores across the country – though that statement does notably make room for some closures and job losses in the future. It's disgusting that this practice is legal imho. By Newsquest Digital Content Team Go Outdoors store in Saltney. Peter Cowgill, Executive Chairman of JD Sports, said, “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 progress whilst remaining a member of the group. VanDamMan Senior Member. KPMG’s contract will run for another two years, and cost just a fraction of that figure. The UK's Biggest Outdoor Stores. The Go Outdoors situation is similar to that of fashion retailer Quiz, which recently tapped. Go To Site . Go Outdoors rescued from administration with jobs saved. This successful sale will provide Go Outdoors with an opportunity to restructure its business to secure its future for the long term. For other inquiries, Contact Us. Deloitte has unveiled plans to almost triple its consulting team in the North of England. 24 Jun 2020. The group filed the notice on Friday and is understood to have lined up restructuring experts from Deloitte. 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. To inquire about a licence to reproduce material, visit our Syndication site. Go Outdoors in administration. 1; 2; 3; First Prev 3 of 3 Go to page. By buying its own subsidiary, Kast Retail, out of administration, Quiz was able to begin a restructuring programme, which includes the renegotiation of rent on its 82 standalone stores in the UK and Ireland. 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. The Sun has contacted JD Sports group for additional comment and we'll update this article when we hear back. Add to Bookmarks; Comment. Consultants share their predictions for 2021, As a new year brings an end to some long-running issues, while posing a whole new list of uncertainties, many firms still face countless challenges regarding digitalisation, workplace relations and n, Deloitte plans to nearly triple its consulting team in the North. Georgia Resident residency switch. This means the company has not officially entered administration. 25 Jun 2020 #41 Skyliner33 said: Thats how I've interpreted all the information also. We'll beat it by 10% It said the move will “preserve as many jobs as possible” at the troubled retailer, which sells waterproof clothing, bikes and camping products. 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". Deloitte has been called in as administrators to Go Outdoors, and has sold the high street camping clothing and supplies company in a £56.5m pre-pack deal to owners JD Sports Fashion. It comes as the group said it is now restructuring the business, having appointed Michael Magnay and Daniel Butters of Deloitte as joint administrators.. Its board had reportedly considered a “number” of strategic options for Go Outdoors, including marketing … Go Outdoors (Image: Derby Telegraph) JD Sports bought back its Go Outdoors business for £56.5million after pushing it into administration in June. JD Sports Group, owner of the GO Outdoors brand, has confirmed that it is ‘looking at options’ for the chain after reports emerged that bosses were poised to call in administrators. After appointing Deloitte as administrators, JD Sports paid £56.5m for Go Outdoors in what is known as a pre-pack administration. JD Sports today confirmed it has bought back its subsidiary Go Outdoors for £56.5m after placing it into administration earlier this week.. Deloitte has been appointed to oversee the process - … The owner of Go Outdoors has bought back the business for £56.5 million after pushing it into administration. 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. "Administrators have not yet been appointed.". VIP Member. In the case of Go Outdoors, JD Sports said it considered potential options for the chain, which has 67 stores nationwide, in May, including a potential sale – but ultimately determined that the business had a potential future within the wider group, “if fundamentally restructured.” While for the meantime JD Sports said it will “preserve as many jobs as possible” at Go Outdoors, it will now push forward with a major restructuring of Go Outdoors. 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 … Go Outdoors goes into administration – but is bough back by JD Sports ready for restructure and store lease revamp As expected, JD Sports has put Go Outdoors into administration – however, the retail group has bought back the camping chain as it sees it as a viable business if it can be restructured, pay down its debts and renegotiate leases. Deloitte handles £56m Go Outdoors pre-pack administration . JD SPORTS has pushed Go Outdoors into administration - but immediately bought back the business for £56.5 million. JD Sports bought Go Outdoors in 2016 for £112 million. In mid-June 2020, it emerged that JD Sports-owned outdoor clothing and footwear retailer Go Outdoors has lined up restructuring experts from Deloitte to review its business, after suffering a sharp downturn in sales due to the Covid-19 pandemic. In late 2020, fashion retailer Bonmarché fell into administration for the second time in 14 months, placing 1,500 jobs at risk. The deal saw JD Sports spend £56.5 million to buy back the business, having pushed it into administration in the first place, but in the long-term the owners hope this will actually help to save money. Reporter, Accountancy Daily, published by Croner-i Ltd. View profile and articles. 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. RSM administrators complete sale of Bonmarché. Big Four accountancy giant Deloitte is said to have been lined up by JD Sports as administrator for Go Outdoors, which employs about 2,400 people across 67 stores. Coronavirus: JD-owned Go Outdoors on brink of administration. $70.00. Go. News. 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. License Activity Packages Packages ensure you have everything you need based on the fishing / hunting activity you would like to participate in. . The move could potentially put 2,400 jobs at risk across its 67 stores. Elliot said: “The news that Go Outdoors has entered into a pre-pack administration is just the tip of the iceberg for the increasing number of restructurings we will see in the retail sector in the months to come. Go Outdoors. Go Outdoors’ Possible Administration Brings Calibre Future Into Question. JD Sports Fashion is launching an insolvency process at Go Outdoors four years after buying it, Sky News learns. JD Sports, which owns Go Outdoors, has filed a notice of its intention to appoint administrators. By LaToya Harding 23 June 2020 • 7:36pm JD Sports has bought back its Go Outdoors chain for £56.5m after the adventure equipment retailer was put into administration. JD Sports Fashion has filed a notice to appoint administrators to its Go Outdoors brand. Mace & Menter wins NHS research projects in the South West. He also urged people stepping outdoors for employment to wear face masks and maintain social distancing protocols. Read more: JD Sports-owned Go Outdoors on brink of administration, with 2,400 jobs on the line “Administrators have not yet been appointed and … To see all content on The Sun, please use the Site Map. Shares in JD Sports dropped almost two per cent as trading started in London this morning, June 22. As of June 23rd, Go Outdoors appointed Deloitte as its administrator, and the Big Four audit and advisory firm swiftly oversaw its sale back to JD Sports. GO Outdoors is on the brink of collapsing into administration, in what would be the latest casualty to hit the UK high street. JD Sports has put Go Outdoors into administration, just four years after buying the company for £112million. The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. Big brand outdoor clothing, tents & camping, cycling and more. This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. The owner of Go Outdoors has bought back the business for £56.5 million after pushing it into administration. 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.”. THE owner of Go Outdoors has bought back the business for £56.5 million after pushing it into administration. GO Outdoors is on the brink of collapsing into administration, in what would be the latest casualty to hit the UK high street. Deloitte has announced the appointment of two senior partners: Hannah Routh and Charlotte Warburton. We've got a full round-up of all the shops and restaurants that have gone bust here. by Hannah Dobson 7 months ago 2. 24 Jun 2020. 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. Thread starter True Romance; Start date 22 Jun 2020; Prev. 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). The owner of Go Outdoors has bought back the business for £56.5 million after pushing it into administration. JD Sports has bought back its Go Outdoors business for £56.5 million after pushing it into administration. as its administrator, and the Big Four audit and advisory firm swiftly oversaw its sale back to JD Sports. UK stationary firm Paperchase is reportedly on the brink of administration, after muted Christmas sales thanks to Covid-19 restrictions. Consultants help hospital group in Bermuda Hospitals save millions. 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. Are pleased that it will protect the maximum number of jobs possible. ” ’. Administrators have not yet been appointed. `` Outdoors rescued from administration with jobs saved JD-owned Outdoors! Has also collapsed, while Quiz clothing has put its shop business into.! ; First Prev 3 of 3 Go to page that it will protect the maximum number of jobs ”... ; 2 ; 3 ; First Prev 3 of 3 Go to page & wins... Is a network of leading companies in the South West struggles during coronavirus. 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