“This successful sale will provide Go Outdoors with an opportunity to restructure its business to secure its future for the long term. As a subscriber, you are shown 80% less display advertising when reading our articles. Michael Magnay and Daniel Butters of Deloitte were appointed as joint administrators of Go outdoors yesterday (23 June 2020). News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services. The owner of Go Outdoors has bought back the business for £56.5 million after pushing it into administration. Newsquest Media Group Ltd, Loudwater Mill, Station Road, High Wycombe, Buckinghamshire. There was also a problem with the brakes not being bled which they have offered to pay for. Exploring the great Scottish outdoors. Go Outdoors Go Outdoors' owners say they are preparing to call in administrators as the coronavirus pandemic pushes High Street retailers to breaking point. A Gannett Company. We'll beat it by 10% Sam Chambers. The retail group hired administrators from corporate finance firm Deloitte earlier on Tuesday, June 23, after it saw sales hammered by the coronavirus crisis. The owner of Go Outdoors has bought back the business for £56.5 million after pushing it into administration. The 12,000 jobs at Debenhams are set to go over the coming months unless the administrators do a deal for all or parts of the business. Go Outdoors goes into administration – but is bough back by JD Sports ready for restructure and store lease revamp As expected , JD Sports has put Go Outdoors into administration – however, the retail group has bought back the camping chain as it sees it as a viable business if it can be restructured, pay down its debts and renegotiate leases. JD Sports said it considered potential options for the chain, which has 67 stores nationwide, in May, including a potential sale. Found something we sell cheaper? To see all content on The Sun, please use the Site Map. You can make a complaint by using the ‘report this post’ link . "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. The BBC is not responsible for … JD SPORTS has pushed Go Outdoors into administration – but immediately bought back the business for £56.5 million. If you have a complaint about the editorial content which relates to inaccuracy or intrusion, then please contact the editor here. For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/, Comments are subject to our community guidelines, which can be viewed, Go Outdoors could be the next retailer to fall into administration, Shoppers queue with social distancing measures as high street reopens in UK, shops and restaurants that have gone bust, Independent Press Standards Organisation (IPSO). Go Outdoors employs … We've got a full round-up of all the shops and restaurants that have gone bust here. GO Outdoors is the latest in a long list of businesses to be facing trouble. To inquire about a licence to reproduce material, visit our Syndication site. Go Outdoors is the latest retailer pushed to the brink during the coronavirus crisis. JD Sports, who own the company, said the move will “preserve as many jobs as possible” at the troubled retailer, which sells waterproof clothing, bikes and camping products. By It comes after Go Outdoors is understood to have conducted a separate sale process in recent weeks. GO Outdoors is on the brink of collapsing into administration, in what would be the latest casualty to hit the UK high street. Wassailing, Salt and Seals. JD sparked uproar by dumping Go Outdoors into administration before buying it back. Read the latest Tyne Tees stories, Jobs risk across our region as Go Outdoors looks set to go into administration on ITV News, videos, stories and all the latest Tyne Tees news Sunday June 28 2020, 12.01am, The Sunday Times. 679215 Registered office: 1 London Bridge Street, London, SE1 9GF. Picture: Newsquest. Wassailing, Salt and Seals. JD Sports, who own the company, said the move will “preserve as many jobs as possible” at the troubled retailer, which sells waterproof clothing, bikes and camping products. The chain has a large store in Old Abingdon Road, Oxford. “I’m particularly pleased that we have been able to secure the employment of all the Company’s workforce, and we’d like to thank all employees and key stakeholders for their support throughout this process.”. Go Outdoors isn't the only retailer to confirm money struggles during the coronavirus crisis. This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. JD Sports has bought back its Go Outdoors business for £56.5 million after pushing it into administration. Newsquest Digital Content Team. However, it said it determined that the business had a potential future within the wider group “if fundamentally restructured”. "Administrators have not yet been appointed.". The owner of camping and hiking specialist retailer, Go Outdoors, is set to call in administrators, as the coronavirus pandemic continues to pile pressure on the high street. If you are dissatisfied with the response provided you can contact IPSO here. Michael Magnay and Daniel Butters of Deloitte were appointed as joint administrators of Go outdoors yesterday (23 June 2020). Get involved with the news in your community, This website and associated newspapers adhere to the Independent Press Standards Organisation's Editors' Code of Practice. JD Sports buys Go Outdoors back out of administration. But according to the letter from UK Outdoors, which represents 15,000 people and organisations, the continuing freeze on residential school trips … On Saturday, Sky News had exclusively revealed that Go Outdoors was on the brink of administration - four years after retail giant JD Sports Fashion first bought it for £100m. JD Sports is set to reacquire Go Outdoors out of administration in a move to restructure the outdoor clothing and equipment retailer and "preserve as many jobs as possible". Read the latest Tyne Tees stories, Jobs risk across our region as Go Outdoors looks set to go into administration on ITV News, videos, stories and all the latest Tyne Tees news Pushing it into administration & Wales on weekdays, and on a part-time outwith. 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