JD Sports exploring 'strategic options' for Go Outdoors brand

JD Sports has confirmed that it is considering a number of ‘strategic options’ for its Go Outdoors brand, which is likely to see the chain enter into administration.

The company said on Monday: “The group can confirm that it has considered a number of strategic options for Go and that Go's directors have lodged the Notice in Court. This Notice creates an immediate moratorium around the company and its property which lasts for ten business days.

“During this moratorium, Go's creditors cannot take legal action or continue with any existing legal proceedings against the company without the Court's permission.”

It added that administrators had not yet been appointed.

The retailer, which specialises in camping, bike and fishing gear, currently employs over 2,000 people and has a 67-strong store estate.

Like formalwear, the outdoor fashion and accessories category has been hit hard in recent months by the Covid-19 pandemic, as demand for such items inevitably fell as people were forced to stay indoors during lockdown.

JD Sports acquired Go Outdoors back in 2016 in a deal worth 112.3 million pounds.

Fashion companies such as Cath Kidson, Debenhams and Monsoon Accessorise have fallen into administration in recent months.

JD Sports is expected to report its full-year results on 7 July.

Images courtesy of JD Sports/Silverburn