Thu, 27 Jun 2013 | ADMINISTRATION
Camping equipment retailer Gelert has been rescued from administration by Sports Direct.
The North Wales-based retailer had appointed administrative receivers from Grant Thornton on Friday before Sports Direct stepped in.
The move has saved thirty jobs across four stores in Porthmadog, Beddgelert, Caernarfon and Betws-y-Coed. Gelert also has a showroom in Haydock, Merseyside and a wholesale operation run from its head office in Widnes, Cheshire. A shop in Dublin was not included in the sale.
David Riley, one of the receivers, commented: “Gelert is a well-established brand and we are delighted to have been able to secure a sale to set it on a new course for the future under new ownership.”
Founded in 1975, Gelert has been focused on providing good value camping equipment and accessories. It has grown to become one of the leading camping brands and has sold over 100 million products across the globe, according to its website.
Retail stockists of Gelert branded products include Cotswold Outdoor Ltd, Great Outdoors, and PJ Camping.
Sports Direct has been seeking to expand its outdoors offering, and already owns Field & Trek and the Karrimor brands. It seems Sports Direct’s hunger for growth has not yet been sated, having previously stepped in to save a string of failed retailers including Republic, some of JJB Sports’ stores, and part of Firetrap.
Sports Direct is also about to heighten its presence in the West End of London, after securing a deal to move in to HMV's lease at the 150 Oxford Street store, which will grant it 60,000 square feet of retail space.
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Related articles:
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JJB Sports falls into administration
Firetrap brand saved in pre-pack administration
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This is a unique chance to acquire a well-established business with deep local ties and a solid asset base.
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