Jun 23, 2020

Coronavirus: Go Outdoors calls in administrators

Go Outdoors' owner has called in administrators for the business as the effects of coronavirus piles pressure on High Street retailers. JD Sports, which owns Go Outdoors, said the Covid-19 lockdown had brought into "Sharper focus" the costs of the business, especially its lease terms. After appointing Deloitte as administrators, JD Sports paid £56.5m for Go Outdoors in what is known as a pre-pack administration. JD Sports will continue to pay rent on Go Outdoor properties while the terms are being renegotiated. The Manchester-based JD Sports group bought Go Outdoors in 2016 for £112m. But the chain has been struggling in recent years, and forced store closures under the coronavirus lockdown have further exacerbated the firm's problems.

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