21 Apr, 2017
Sports Direct enters US market in $101m deal
and founder of Sports Direct, Mike Ashley has expanded his business
empire after acquiring a bankrupt American retail chain in a $101m
On Friday, Sports Direct announced that it is
buying Eastern Outfitters out of bankruptcy. Eastern Outfitters owns
discount chain Bob's Stores and Eastern Mountain Stores, which sells
camping and outdoors equipment.
The $101m deal means that Sports
Direct have gained a foothold in the US for the first time and includes
roughly 50 stores spread across the country.
The company says the
deal "will provide Sports Direct with a footprint in US
bricks-and-mortar retail and a platform from which to grow US on-line
sales". The sports firm also said that the deal is expected to be
completed in the first half of May this year.
Sports Direct is
the UK’s most popular sport discount store and current has about 700
stores operating across the nation with a further 400+ spread across
In recent months, Sports Direct has been under fire for
allegedly mistreating its employees and for poor working environments.
In an effort to clean up its act, last week Sports Direct appointed a
30-year-old shop manager from Barnstaple as its first ever
representative for its workers.
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