JD Sports buys back its subsidiary Go Outdoors for £56.5m

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JD Sports saves 2,400 jobs as it buys back its subsidiary Go Outdoors for £56.5m

By Daily Mail City & Finance Reporter

Published: | Updated:

JD Sports has bought its subsidiary Go Outdoors back for £56.5m

JD Sports has bought its subsidiary Go Outdoors back for £56.5million, providing a lifeline to 2,400 staff.

The pre-pack administration lets JD avoid pricey leases which left many of the 67 shops that sell kit for camping unprofitable after coronavirus.

Landlords are expected to be the main loser as the sports fashion chain said it will demand ‘realistic ‘ rent deals. 

JD will honour Go’s debts to suppliers, HM Revenue and Customs, and customers who have returns or gift cards.

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