Retail chain Streetwise Sports ‘on the brink of insolvency’

NORTH West retail chain Streetwise Sports is reportedly set to appoint administrators.

The Warrington-based firm, which until late last year was part of listed sports chain Sports Direct – the company built up by the colourful entrepreneur Mike Ashley – has around 30 shops, mainly in the North West.

Sports Direct is thought to have  paid around £10m for Streetwise in late 2006, but sold it to businessmen Stephen Mucklow and Melvyn Reiss in December.

According to reports today, Streetwise will appoint administrators after a meeting of creditors this week.