Go Outdoors, the 67-unit outdoor chain based in the UK, is exploring administration, a process similar to U.S. bankruptcy. The move was confirmed its owner by JD Sports.
JD Sports said in a statement that JD Sports filed a notice of intention to appoint administrators for the business.
The statement continued, “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.”
Go Outdoors, which accounts for around 5 percent of JD Sports’ annual sales, was struggling before the pandemic and posted a loss of around £40 million in the six months to August 2019. The retailer employs more than 2,000.
Photo courtesy Go Outdoors