BusinessBusiness RecoveryAllsports goes into administration

Allsports goes into administration

Charlton Athletic sponsors Allsports enter administration

Sports retailer Allsports, which sponsors premier league
football club Charlton Athletic, has gone into administration.

BDO Stoy Hayward partners Dermot Power, Matthew Dunham and
Simon Michaels have been appointed joint administrators to the retailer,
following a significant fall in sales.

‘The need for the protection of the court is a direct result
of falling turnover. Rapidly changing consumer patterns and the sportswear price
war are other significant factors leading to the administration,’ said
Power.

‘All stakeholder positions are being considered, but the
inevitable downsizing will result in some store closures, job losses and
reduction in group overheads.’

Allsports has 260 stores nationwide, employing 1,700
staff.

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