By Hugh Radojev2019-08-05T16:33:00
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.
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