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Firetrap brand acquired by Sports Direct in pre-pack deal

Firetrap, the high street fashion brand, has been partially bought by Sports Direct in a pre-pack administration deal.

CITY & CORPORATE

Firetrap brand acquired by Sports Direct in pre-pack deal

Firetrap, the high street fashion brand, has been partially bought by Sports Direct in a pre-pack administration deal.

World Design & Trade, which operated the Firetrap UK and FullCircle brands, filed for administration last week and appointed restructuring specialists Ernst & Young to handle the process.

The sportswear retailer has bought the wholesale business, brands and concessions thereby saving 170 jobs.  However it chose not to buy Firetrap’s six retail stores which have all been closed with 51 employees being made redundant.

It is thought that Sports Direct was competing to buy the company with rival sporting brand, JD Sports. Both companies attempted to acquire collapsed outdoor pursuits chain Blacks earlier this year, with the bulk of the business eventually being bought by JD Sports.

The acquisition of Firetrap has increased Sports Direct’s portfolio of fashion brands following its purchases of apparel retailer USC and premium fashion chain Cruise last year.

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