Positive retail news as JD Sports buyout saves Cloggs
AILING West Midlands footwear business Cloggs Online has been bought out of administration for an undisclosed sum by JD Sports.
Birmingham-registered Cloggs’ management team and employees are being retained and the business will continue to be based in the area.
Cloggs sells brands including Dr Martens, Fitflop, Converse, Vans and Hunter.
Bury-based JD has acquired its business and assets in a deal negotiated by joint administrators, Lila Thomas and David Acland from insolvency firm Begbies Traynor.
The old company will change its trading name to C G Realisations 2013 Limited as part of the deal.
Peter Cowgill, executive chairman of JD Sports Fashion said: “The purchase of Cloggs presented a strategic opportunity for us to diversify our own online business.
“Cloggs’ casual footwear collection includes iconic brands such as Dr Martens, Fitflop, Converse, Vans and Hunter. We plan to invest heavily in the development of the website and work alongside these brands to develop the product range and customer base further.”
Thomas at Begbies Traynor, added: “This sale has not only protected vital jobs in the retail sector, but has also provided an ambitious company with the opportunity to expand its own business and turn around the fortunes of Cloggs.
“In a year in which the headlines have already been dominated by retail failures and job losses, this is a welcome good news story for the region and the retail sector.”
Cloggs’ head office is based in New Street, Birmingham. The firm also has a store based in the Bullring shopping centre.
Law firm Squire Sanders advised JD Sports Fashion on the acquisition.