Aug 5, 2019

Sports Direct buys Jack Wills for £12.75m

Mike Ashley's Sports Direct has bought the UK business of Jack Wills, the preppy fashion chain popular with well-heeled undergraduates, out of administration for £12.75m. KPMG were appointed administrators of Jack Wills on Monday and immediately sold the UK business and assets to Sports Direct, which acquired House of Fraser and Evans Cycles via a similar process. All of Jack Wills' UK employees have transferred to Sports Direct as a result. "Jack Wills has a strong brand and proud British heritage, so it is pleasing to have been able to secure this agreement with Sports Direct," said Will Wright, partner at KPMG and joint administrator. Michael Murray, head of elevation at Sports Direct, said Jack Wills would continue to operate as a separate company with its own leadership team. He added that Jack Wills will fall under a new division established at Sports Direct which will focus solely on buying and building fashion and sports brands.

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