Sports Direct snaps up Jack Wills for £12.75m
Sports Direct has won the bidding war for fashion chain Jack Wills - which has three stores in Northern Ireland - adding yet another brand to Mike Ashley's high street empire.
Advisers at KPMG said Jack Wills had been put into administration yesterday and was immediately sold to Sports Direct in a process known as a pre-pack administration.
The sale, for which Sports Direct paid £12.75m, includes all 100 UK and Ireland stores and stock, as well as a distribution centre, along with all employees.
There are three Jack Wills stores in the province, on Belfast's Arthur Street, in The Boulevard in Banbridge and Londonderry's Foyleside Shopping Centre.
Directors are considering options for the international business, which includes stores in Hong Kong, Singapore and the United States.