Sports Direct enters US market with £79m deal
Shirebrook-based Sports Direct has made a £79m swoop to buy a stricken US sports, casual wear and camping equipment chain.
Sports Direct has bought Eastern Outfitters, which includes Bob’s Stores and Eastern Mountain Sports, after the firm filed for bankruptcy in the US.
Sports Direct will close some stores, but keep 50 open.
In the financial period to 28 January 2017, the businesses incurred a pre-tax net operating loss of $26m. As at 28 January 2017, the gross assets of the businesses being acquired was $126m.
The acquisition is expected to complete in the first half of May 2017 and will provide Sports Direct with a footprint in US bricks-and-mortar retail and a platform from which to grow US on-line sales.