Allsports out of administration
JD Sports purchases Allsports for £18m as a going concern
The future of 1,850 jobs were today secured after Allsports administrators
BDO sold the company’s assets to JD Sports for £18m.
JD Sports has acquired the business as a going concern, and taken on some of
the existing liabilities from the administrators including landlords, employees
and for the retention of title stock.
The deal consists of the property rights to 178 Allsports stores.
‘This is a brilliant result for a large range of stakeholders,’ said BDO lead
administrator Dermot Power. ‘No doubt JD Sports will rapidly absorb and benefit
from the Allsports estate.’
Power made special thanks to Allsports staff who ‘worked hard through a real
period of uncertainty’.