Following a week of intense speculation, Go Outdoors’ owners – JD Sports – have announced that they are set to call in administrators as the coronavirus pandemic continues to devastate high street retailers across the UK.
Go Outdoors employs about 2,400 staff across the country in more than 60 stores – specialising in camping equipment, travel items, bikes and clothes.
JD Sports acquired Go Outdoors in 2016 for £112m, however, the chain has been struggling in recent years, and the impact of the coronavirus-enforced lockdown has pushed the firm into today’s announcement.
A statement from JS Sports read: “JD Sports Fashion Plc (the ‘Group’) notes the speculation with regards to the filing of a Notice of Intention to appoint Administrators (‘Notice’) at Go Outdoors (‘Go’).
“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.
“Administrators have not yet been appointed and the Group will make no further comment at this time.”