Mike Ashley's Sports Direct takes control of US chains in £78million debt deal



Mike Ashley's Sports Direct has seized control of US retailers Bob's Stores and Eastern Mountain Sports in a 101 million US dollars (£78 million) debt deal.
The billionaire tycoon has acquired the chains by buying up the debts of their parent firm Eastern Outfitters, which filed for Chapter 11 bankruptcy protection in February.
The deal will see Mr Ashley take charge of around 50 retail stores in the US under the Bob's Stores and Eastern Mountain Sports fascias, which sell clothing, sportswear and camping equipment.
Sports Direct said the acquisition will provide it with a "footprint... read more

 
21 April 2017 in Regional North East, Views: 16
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