JD Sports set to appoint administrators to Go Outdoors

Mon, 22 Jun 2020 | ADMINISTRATION



JD Sports Fashion has filed a notice of intention to appoint administrators to its subsidiary Go Outdoors. Go Outdoors specialises in camping equipment, bikes and outdoor clothes, it employs around 2,300 people at 67 stores. JD Sports acquired the chain for £112 million in 2016. The notice of intention provides the company legal protection from creditors for ten days.

JD has appointed Deloitte to act as administrators for the chain, which is reported to have run a sale process over recent weeks to sound out potential buyers. According to sources, JD will use an insolvency process to restructure the retailer and is said to be keen to retain control over a slimmed-down Go Outdoors. The company could also seek rent holidays or reductions at some stores or job cuts.

Go Outdoors has struggled over recent years and its problems were exacerbated by forced store closures as a result of the coronavirus pandemic. Some of its stores began to reopen in May, but sales are likely to have been impacted by continued restrictions on outdoor activities and campsites being closed.

Go Outdoors most recent accounts were filed to the year ending February 2 2019. In that period, the company reported turnover of around £240.2 million, up from £232.4 million the year prior. It registered gross profit of £72.9 million, down from £75.7 million in 2018, and reported losses of £802,000, down from a profit of £7 million the year before. EBITDA for the period stood at £9.3 million.

In those financial reports, Go Outdoors reported fixed assets valued at £32.8 million and current assets of £66.2 million. Its total assets less current liabilities were valued at £22 million, with net assets valued at £14.4 million.


View the latest distressed UK businesses here.


Share this article



Latest Businesses for Sale

Eco-Friendly, Recyclable & Biodegradable Products Online Retailer
UK Wide

Has in excess of 2,100 subscribers, all of whom provide reliable, repeat business on an ongoing basis, in addition to a high volume of customers making one-off purchases. Operates from leasehold premises; however, the company could be relocated to a...

Asking Price: Offers Invited
Turnover: £1,067,787

RELOCATABLE


High End Sewing Machines Retailer
UK Wide

Flagship retail store specialising in the highest-end brand of sewing machines. Loyal and affluent clientele coming from all over the UK (and overseas). This business has been a leader in the field for 24 years. The sewing machine market is booming,...

Asking Price: £350,000
Turnover: £700,000

LEASEHOLD


Provider of Merchandise
UK Wide

A long-established provider of promotional merchandise both plain and branded for a high-calibre client base. Using a large network of suppliers the company boasts a vastly comprehensive range. Dedicated staff nurture client relationships and promote...

Asking Price: Offers Invited
Turnover: £5,000,000


View more businesses for sale

News Search

Latest News

 
10
 
Jul
 

Mobile phone supplier and recycler goes into administration | ADMINISTRATION

Mobile phone refurbishment company Redeem UK has gone into a...

 
09
 
Jul
 

John Lewis to close eight stores as COVID-19 accelerates shift to online | BUSINESS NEWS

Department store chain John Lewis has said that eight of its...

 
09
 
Jul
 

Chancellor cuts VAT on hospitality as part of £30 billion rescue plan | BUSINESS NEWS

Chancellor Rishi Sunak has announced a £30 billion pla...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
24
 
Jun
 

JD Sports buys back Go Outdoors from administrators | BUSINESS SALE

JD Sports has bought back retail chain Go Outdoors after pla...

 
23
 
Jun
 

Digital photography firm Picsolve sold out of administration | BUSINESS SALE

Derby-based digital photography firm Picsolve has been sold ...

 
08
 
Jun
 

Victoria’s Secret UK enters administration | ADMINISTRATION

The UK arm of lingerie retailer Victoria’s Secret has ...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources