Iconix deal could lead to Umbro redundancies

JOBS are understood to be under threat at Umbro just a week after Nike agreed to sell the business to the US-based Iconix Brand Group in a £140m deal.

The firm, which employs 190 staff at two sites in Cheadle and Manchester city centre, should become part of brand management group Iconix by the end of the year.

Nike is understood to have told staff some jobs will be cut but a spokesman for Umbro said: “Some employees may move to the buyer, others may stay on to work on the new business [Umbro] and others may transition away.”

He said “transition away” could mean opting to work elsewhere rather than redundancy and directed a question about job losses to Iconix’s New York headquarters. There was no response at the time of writing.

Nike bought Umbro in 2008 for £285m and controversially kept Umbro’s most popular replica shirt deals, with England and Manchester City, out of the sale.