JD Sports acquires Cloggs
The move follows the news last week that the sportswear retailer had bought men’s fashion brand Gio Goi, also out of administration.
Birmingham based Cloggs, which also has a store in the city’s Bullring shopping centre, will retain the existing management team following the acquisition.
The deal was negotiated by joint administrators Lila Thomas and David Acland from Begbies Traynor.
JD Sports executive chairman Peter Cowgill said: "The purchase of Cloggs presented a strategic opportunity for us to diversify our own online business.
"Cloggs’ casual footwear collection includes iconic brands such as Dr Martens, Fitflop, Converse, Vans and Hunter.
"We plan to invest heavily in the development of the website and work alongside these brands to develop the product range and customer base further."
Begbies Traynor partner Thomas added: "This sale has not only protected vital jobs in the retail sector, but has also provided an ambitious company with the opportunity to expand its own business and turn around the fortunes of Cloggs.
"In a year in which the headlines have already been dominated by retail failures and job losses, this is a welcome good news story for the retail sector."
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