June 23, 2020 / 5:24 PM / 12 days ago

JD Sports buys back Go Outdoors from administrator as it begins unit restructuring

June 23 (Reuters) - Retailer JD Sports said on Tuesday it had appointed Deloitte as administrator for its loss-making outdoor clothing business that has been struggling with falling demand, and will begin a restructuring of the unit.

London-listed JD Sports said it had brought back the business, Go Outdoors, and all its assets from the administrator for 56.5 million pounds ($70.7 million) via a new subsidiary as part of a so-called pre-pack administration deal.

$1 = 0.7993 pounds Reporting by Pushkala Aripaka in Bengaluru; Editing by Maju Samuel

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