Go Outdoors goes into administration – but is bough back by JD Sports ready for restructure and store lease revamp As expected , JD Sports has put Go Outdoors into administration – however, the retail group has bought back the camping chain as it sees it as a viable business if it can be restructured, pay down its debts and renegotiate leases. Connect With Us . We accept the following … Go Outdoors, which accounts for around 5% of JD Sports’ annual turnover, was also struggling before the pandemic, and posted a loss of around £40million in the six months to August 2019. JD Sports Fashion file a notice of intention to appoint Deloitte as administrator to subsidiary, Go Outdoors. Picture: Newsquest. JD Sports, who own the company, said the move will “preserve as many jobs as possible” at the troubled retailer, which sells waterproof clothing, bikes and camping products. The owner of Go Outdoors has bought back the business for £56.5 million after pushing it into administration. The owner of Go Outdoors has bought back the business for £56.5 million after pushing it into administration. In November 2016 the deal was signed, including £16m of net debt. Add to Bookmarks; Comment. Four years after buying Go Outdoors for £112million, JD Sports has filed a notice of intent to put the store into administration. JD Sports is likely to appoint administrators for its subsidiary Go Outdoors after the brand was forced to close all of its 67 stores during lockdown. 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 … Go Outdoors, the retail chain specialising in camping, cycling and outdoor equipment, looks set to go into administration following … JD Sports confirms Go Outdoors administration notice. JD Sports confirmed it is yet to hire administrators for Go Outdoors. Then in May 2017 the Competition and Markets Authority approved the £112m deal. Help. Thousands of jobs could be under threat at Go Outdoors as its owners are set to call in administrators following a huge hit on trade. At least Go Outdoors “is constantly looking for fresh ideas to keep things fun”. JD Sports Fashion has filed a notice to appoint administrators to its Go Outdoors brand. 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. The chain has a large store in Old Abingdon Road, Oxford. JD’s Go Outdoors prepares for administration. Customer Service FAQs My Account Expert Advice Blog Brands A-Z Find a Store Klarna. By Safiya Bashir - 22/06/2020. The Go Outdoors camping stores chain is going into administration. Reporter, Accountancy Daily, published by Croner-i Ltd. View profile and articles. 24 Jun 2020. JD Sports is set to reacquire Go Outdoors out of administration in a move to restructure the outdoor clothing and equipment retailer and "preserve as many jobs as possible". Michael Magnay and Daniel Butters of Deloitte were appointed as joint administrators of Go outdoors yesterday (23 June 2020). Administrators have not been appointed yet but creditors cannot take or continue legal action for ten days . Go Outdoors has been placed in administration by owner JD Sports - with 2,400 staff across 67 stores set to be affected by today's announcement Sheffield firm Go Outdoors, which was bought for more than £100m by JD Sports Fashion four years ago, is reportedly on the brink of administration. About GO Outdoors. Mon, Jun 22, 2020 10:34. By Grace Whelan 22 June 2020. 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. Camping, cycling and outdoor retailer which trades from 67 stores lodges notice of intention to appoint administrators. Go Outdoors’ Possible Administration Brings Calibre Future Into Question. The owner of Go Outdoors has bought back the business for £56.5 million after pushing it into administration. by Simon_MacMichael. Go Outdoors looks set to go into administration as parent company JD Sports updates City. Share. The retail giant completed the acquisition of the sports and athleisurewear retail chain in 2017. 7 . Go Outdoors. JD Sports is preparing for a possible pre-pack administration of Go Outdoors after the retailer was laid low by the lockdown.The FTSE 100 sportswear and equipment group filed a notice of intention to Go Outdoors, the retailer bought back by sportswear giant JD Sports in a pre-pack administration, could see its unsecured creditors recoup just 1p in every £1 owed. The move could put 67 stores and more than 2,000 jobs at risk. Go Outdoors owner, JD Sports has announced that, as a consequence of the challenges caused by the spread of COVID-19, it has placed it into administration but has quickly re-acquired the company and has a restructuring plan that may enable to continue as a business. Go Outdoors on brink of administration. About GO Outdoors Job Opportunities JD Sports Fashion PLC Modern Slavery Report GO Outdoors Partners. Pat Sweet. It said the move will “preserve as many jobs as possible” at the… The owner of Go Outdoors has bought back the business for £56.5 million after pushing it into administration. If administrators are appointed, Go Outdoors would be one of the latest major retailers to enter an insolvency process since the coronavirus pandemic swept across the world. JD Sports has placed Go Outdoors into administration, blaming high rents on its stores. The parent company bought the firm four years ago for £112million. Go Outdoors (Image: Derby Telegraph) JD Sports bought back its Go Outdoors business for £56.5million after pushing it into administration in June. by Hannah Dobson 6 months ago 2. Deloitte has been called in as administrators to Go Outdoors, and has sold the high street camping clothing and supplies company in a £56.5m pre-pack deal to owners JD Sports Fashion. It said the move would "preserve as many jobs as possible" at Go Outdoors, which sells waterproof clothing, bikes and camping products. The group filed the notice on Friday and is understood to have lined up restructuring experts from Deloitte. As the Coronavirus pandemic is putting pressure on the UK high street, the brand has suffered from closed stores and a lack of online demand. JD Sports bought Go Outdoors in a £112m deal in 2016. JD Sports, who own the company, said the move will “preserve as many jobs as possible” at the troubled retailer, which sells waterproof clothing, bikes and camping products. JD SPORTS has pushed Go Outdoors into administration – but immediately bought back the business for £56.5 million. Go Outdoors rescued from administration with jobs saved at eleventh hour. Important Info. The JD Sports brand, Go Outdoors, is expected to fall into administration. 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