The owner of Go Outdoors has bought back the business for £56.5 million after pushing it into administration. Connect With Us . 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. About GO Outdoors. By Grace Whelan 22 June 2020. By Safiya Bashir - 22/06/2020. 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. 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. 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. 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. 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 … Four years after buying Go Outdoors for £112million, JD Sports has filed a notice of intent to put the store into administration. JD Sports Fashion has filed a notice to appoint administrators to its Go Outdoors brand. 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. 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. JD’s Go Outdoors prepares for 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. Go Outdoors, the retail chain specialising in camping, cycling and outdoor equipment, looks set to go into administration following … The retail giant completed the acquisition of the sports and athleisurewear retail chain in 2017. At least Go Outdoors “is constantly looking for fresh ideas to keep things fun”. Help. Administrators have not been appointed yet but creditors cannot take or continue legal action for ten days . Go Outdoors on brink of administration. Go Outdoors looks set to go into administration as parent company JD Sports updates City. 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 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. Customer Service FAQs My Account Expert Advice Blog Brands A-Z Find a Store Klarna. JD Sports bought Go Outdoors in a £112m deal in 2016. The move could put 67 stores and more than 2,000 jobs at risk. JD Sports has placed Go Outdoors into administration, blaming high rents on its stores. 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. Add to Bookmarks; Comment. The owner of Go Outdoors has bought back the business for £56.5 million after pushing it into administration. JD Sports Fashion file a notice of intention to appoint Deloitte as administrator to subsidiary, Go Outdoors. The parent company bought the firm four years ago for £112million. In November 2016 the deal was signed, including £16m of net debt. Reporter, Accountancy Daily, published by Croner-i Ltd. View profile and articles. About GO Outdoors Job Opportunities JD Sports Fashion PLC Modern Slavery Report GO Outdoors Partners. 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 (Image: Derby Telegraph) JD Sports bought back its Go Outdoors business for £56.5million after pushing it into administration in June. The owner of Go Outdoors has bought back the business for £56.5 million after pushing it into administration. Go Outdoors’ Possible Administration Brings Calibre Future Into Question. 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. by Simon_MacMichael. 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. Price Match Plus Discount Card Click and Collect Delivery Information Returns CycleScheme Group Sales Student Discount. The owner of Go Outdoors has bought back the business for £56.5 million after pushing it into administration. 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. 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. Go Outdoors rescued from administration with jobs saved at eleventh hour. 24 Jun 2020. The JD Sports brand, Go Outdoors, is expected to fall into administration. by Hannah Dobson 6 months ago 2. Camping, cycling and outdoor retailer which trades from 67 stores lodges notice of intention to appoint administrators. It said the move would "preserve as many jobs as possible" at Go Outdoors, which sells waterproof clothing, bikes and camping products. Important Info. JD SPORTS has pushed Go Outdoors into administration – but immediately bought back the business for £56.5 million. JD Sports confirms Go Outdoors administration notice. JD Sports confirmed it is yet to hire administrators for Go Outdoors. The chain has a large store in Old Abingdon Road, Oxford. News. Mon, Jun 22, 2020 10:34. 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