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 has bought back retail chain Go Outdoors after placing it into administration earlier in the week, which we reported on here.The company claims that the deal, which is said to be structured as a pre-pack administration sale, will preserve “as many jobs as possible” and honours existing agreements with suppliers. //Go Outdoors close to administration as it lines up restructuring experts from Deloitte // The outdoor retailer saw a sharp downturn in sales due to the coronavirus pandemic Go Outdoors could go into administration. It said the move would "preserve as many jobs as possible" at Go Outdoors, which sells … It accounts for 5% of the group’s annual revenue. Go Outdoors, the retail chain specialising in camping, cycling and outdoor equipment, looks set to go into administration following an update from parent company JD Sports Fashion plc to the London Stock Exchange this morning. The move could put 67 stores and more than 2,000 jobs at risk. Go Outdoors is said to be teetering on the brink of collapse, after the JD Sports-owned retailer was reported to be calling in administrators. 20 July 2020. Four years after buying Go Outdoors for £112million, JD Sports has filed a notice of intent to put the store into administration. Throughout this pandemic, yours and our teams safety has been our number one priority, we need to remember to be responsible and respectful whilst being in our great outdoors and whilst out shopping. Go Outdoors has been placed in and acquired back out of administration in a pre-pack deal by its former and now current owner JD Sports.. A fundamental restructuring of the retailer has been deemed necessary with coronavirus having forced the closure of its 67 stores across the country. It’s been a challenging year for our community and we want to say again how much we appreciate your support. Brand forced to close all 67 stores during lockdown. Go Outdoors set to go into administration with 2,400 jobs under threat Owner JD Sports has filed for court protection following a huge downturn on trade due to … Another UK retailer has been sold in a speedy administration to a new entity set up by its former owners, with Deloitte administrators completing a pre-pack sale of the UK camping and hiking retailer Go Outdoors, just 24 hours after it filed a notice of intent to appoint them. 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 the group will … JD Sports, who bought back the company via a pre-pack administration, said it will pay the taxman, customers' returns, branded stock suppliers and gift cards. Samuel Osborne @SamuelOsborne93. The company entered administration in 2012 and is now owned by JD Sports Fashion plc.JD made a cash offer of £20m for the … It comes after Go Outdoors is understood to have conducted a separate sale process in recent weeks. Michael Magnay and Daniel Butters of Deloitte were appointed as joint administrators of Go outdoors yesterday (23 June 2020). If there's something you know you want, then it makes sense to buy it as soon as possible in case the company does go into administration and the administrators decide they won’t accept vouchers. Retailer JD Sports has bought back its Go Outdoors business for £56.5 million after pushing it into administration. Citing the coronavirus lockdown as the principal reason for pushing the high street retailer to breaking point, JD Sports said it had looked at the options for Go Outdoors and had decided to start the administration … The update comes in the wake of reports at the weekend that outdoor equipment retailer Go Outdoors, which has 67 stores and employs 2,300 people, was on the brink of administration. The brand currently employs around 2,300 staff and has 67 stores. Some people may prefer to wait to see if they can use their vouchers to get a bargain if the company has a closing down sale. Unsecured creditors of Go Outdoors, the chain bought back by JD Sports in a pre-pack administration, could recoup just 1p in every £1 owed.. JD … JD Sports has become embroiled in controversy after putting subsidiary Go Outdoors into administration before promptly buying it back and seeking to secure better rent deals. The chain has a large store in Old Abingdon Road, Oxford. https://www.mirror.co.uk/money/jd-sports-looking-options-go-22231233 We'll beat it by 10% The inauguration has been held inside before, though that was for weather-related reasons. Found something we sell cheaper? JD Sports has filed a notice of intention to enter administration for subsidiary company Go Outdoors, the company who owns Calibre bikes.