Sports Direct buys Republic stores
Filed under: Shopping & Deals
The future of high-street fashion retailer Republic has been secured and 2,100 jobs saved after Sports Direct International bought the chain from administrators.
The Sports World group - founded by Newcastle United owner Mike Ashley - snapped up 116 shops and stock, along with Republic's head office in Leeds, its websites and brands SoulCal, Fabric and Crafted.
The undisclosed deal comes after administrators Ernst & Young closed five Republic shops in Scotland on Tuesday, with the loss of 105 jobs, and axed another 150 jobs at its head office in Leeds.
Administrator Hunter Kelly 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.
He said: "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."