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JD Sports buys back Go Outdoors from administrator as it begins unit restructuring

Published 06/23/2020, 01:32 PM
Updated 06/23/2020, 01:35 PM
© Reuters. FILE PHOTO: People pass a JD Sports store in London

(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.

© Reuters. FILE PHOTO: People pass a JD Sports store in London

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