Struggling fashion retailer Jack Wills has been bought out of administration by Sports Direct, following a tussle between Mike Ashley and fellow retail tycoon Philip Day’s Edinburgh Woollen Mill Group.
Sports Direct confirmed it bought the embattled fashion brand out of administration for “a cash consideration” of £12.75m – which included all of the business’ stores in the UK and Ireland as well as its stock and brand.
The brand’s administrators, KPMG, said all 1,700 staff and its distribution centre would also be transferred to Sports Direct and that its directors were “currently assessing their options for the international business”.
Jack Wills as 110 stores in the UK and Ireland as well as in Hong Kong, Singapore and the USA. It also has six franchise stores across Kuwait, Saudi Arabia and the Channel Islands and an ecommerce offering in 130 countries.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.