By Luke Tugby2019-10-28T07:20:00
Sports Direct boss Mike Ashley has become embroiled in a fresh legal battle over his bold bid to expand into the US.
The retailer and its billionaire owner have been accused of short-changing one of the lenders to Eastern Outfitters – the business Sports Direct acquired in a $100m (£78m) deal back in 2017.
Eastern Outfitters was in Chapter 11 bankruptcy at the time of the purchase, but Sports Direct said the acquisition would “provide a footprint in US retail and a platform from which tog row US online sales” as Ashley looked to grow his empire overseas.
The deal to purchase Eastern Outfitters, which owns Bob’s Stores and Eastern Mountain Sports, was Sports Direct’s first major US retail acquisition.
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