Sports retailer acquires sunken rival
John David Group has bought the key assets of rival sports chain All:sports from administrators for£18 million.

The sports retailer will take over 178 All:sports stores, which JD said would continue to trade under the All:sports brand.

John David Group executive chairman Peter Cowgill said: 'We believe that since the disposal of the underperforming stores, the remaining All:sports stores offer an exciting opportunity to expand the offering of JD to our customers.'

All:sports' unaudited accounts for the year ended January 31 revealed an operating loss of£800,000. BDO Stoy Hayward was called in last month after the company collapsed into administration. A total of 1,173 staff redundancies were announced at the retailer.