JD Sports steps in for Gio-Goi brand
ASSETS of the fashion brand Gio-Goi, which had its origins in Manchester’s dance music scene of the 1980s, have been bought by JD Sports.
The Bury-based retailer has bought the brand and stock from administrators at KPMG who were appointed last month.
Gio-Goi was set up by brothers Christopher and Anthony Donnelly during the “Madchester” days but had since moved to London.
Last summer the business closed three shops in Manchester, Aberdeen, Glasgow, but continued to sell its clothes through retailers such as JD Sports.
Administrator Jane Moriarty said: “I can confirm that we have successfully sold the brand and stock to JD Sports Fashion Plc for an undisclosed sum. The joint administrators will now concentrate on realising the remaining assets and winding down the companies.
“JD Sports Fashion Plc is renowned for developing brands and will look to build on Gio Goi’s rich history.”
Administrators were appointed to Gio Goi, Gio Goi Retail, and Gio Goi Brands. Christopher Donnelly still holds shares along with other investors, but the largest shareholder is the Pentland Group, a brand management company which has bases in Manchester, Blackburn and Great Harwood, Lancashire. Its other brands include Berghaus, Boxfresh, Red or Dead and Speedo.
John Joyce and Tim Taylor at the Manchester office of law firm Addleshaw Goddard acted for JD Sports.
