Sports Direct to cement its US presence with Bob’s and Eastern Mountain Sports acquisition
21/04/2017
Almost exactly a year ago, parent group Vestis Retail filed for Chapter 11 bankruptcy protection and said it would close eight Eastern Mountain Sports stores and one Bob’s outlet. Another retail chain in the group, Sport Chalet, was less fortunate; all 47 Sports Chalet stores closed almost immediately.
Sports Direct announced on April 19 that it will now acquire what remains of the Bob’s Stores and Eastern Mountain Sports businesses. Closures will continue, but the UK-based group will end up with around 50 retail stores in the US. The deal has cost it around $100 million.
It has said that the deal, which it expects to complete within a few weeks, will provide Sports Direct with a footprint in US bricks-and-mortar retail and a platform from which to grow US online sales.
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