THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
JD Sports buys Gio Goi out of administration

JD Sports has bought the collapsed men’s fashion brand Gio Goi out of administration for an undisclosed sum.

GENERAL MERCHANDISE

JD Sports buys Gio Goi out of administration

Gio Goi went into administration last month following attempts to restructure the business with the closure of the brand's three UK stores. However, Gio Goi continued to supply clothing to a range of high street and online retailers including JD Sports.   

KPMG administrator Jane Moriarty said at the time: "Following a restructuring programme last year, Gio Goi was unable to return to growth levels enjoyed up until 2009 and has become another victim of the recessionary environment."

The administration resulted in the loss of 24 jobs.

On Tuesday Moriarty said: "I can confirm that we have successfully sold the brand and stock to JD Sports Fashion for an undisclosed sum.

"The joint administrators will now concentrate on realising the remaining assets and winding down the companies." 

The deal follows JD’s acquisition of the Henleys fashion brand last September and its purchase of sports clothing designer Source Lab. The retailer is understood to have paid £2.6 million for each business.

Moriarty added: "JD Sports Fashion is renowned for developing brands and will look to build on Gio Goi’s rich history."


 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing