Frasers’ execs may have been talking about potential store closures in recent periods, but the firm is also planning openings and has announced its first regional store since the pandemic began at Leicester's Fosse Park.
Unsecured creditors of Go Outdoors could get back only around 1p in the pound, according to Deloitte. Given that it plans to pay most bills and honour customer returns, that leaves landlords as the main group to suffer.
JD Sports' boss has hit out at the UK's business rates relief, questioning why supermarkets that have been open during the lockdown get the relief. He thinks some should have gone to landlords to help them cut rents.
The news this month that Lord Andrew Tyrie, the chair of the Competition and Markets Authority (CMA), would exit his role was driven by a major clash with the CMA’s top executive Andrea Coscelli, a report has claimed.
News on Tuesday that previous owner JD Sports had bought back Go Outdoors in a £56.5m pre-pack deal, was accompanied by the retail giant saying it would work to preserve as many of the 2,400 jobs at the chain as it can.
Retailer JD Sports 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.
JD Sports may be one of the most successful retailers in the UK, but it's not immune to problems linked to the coronavirus crisis and on Saturday it was reported that it's to throw in the towel with Go Outdoors.