Republic bought by Sports Direct
Sports Direct has rescued the collapsed Republic fashion chain by buying 114 stores, thereby saving 2,100 jobs.
The sportswear retailer has also acquired Republic’s head office in Leeds as well as its stock, website and own brands. These include SoulCal, Fabric and Crafted.
Hunter Kelly, joint administrator, said: “In what has been a very challenging time and volatile climate for retailers, it is particularly pleasing to have completed the successful sale of Republic, saving 2,100 jobs across the UK high street and at its Leeds-based headquarters.
“The brand Republic is well recognised and well respected by customers for offering quality, high fashion goods and it is a testament to its strength that Sports Direct has made this investment to secure its future and high street presence.”
Never Miss a Retail Update!Founded in 1986, Republic was bought by private equity firm TPG in June 2010 in a deal worth around £300 million. The fashion chain collapsed into administration in February after seeing a downturn in sales in recent months.
