Lazaruswatch: 116 Republic stores bought by Sports Direct
Some good news for once – beleaguered fashion chain Republic has been SAVED after 116 stores were snapped up by Sports Direct, saving more than 2,100 jobs that were hanging by a thread.
The deal is expected to save more than 2,100 jobs for Republic workers.
Joint administrator Hunter Kelly said: "In what has been a very challenging time and volatile climate for retailers, it is particularly pleasing to have completed the successful sale of Republic (Retail) Limited, saving 2,100 jobs across the UK high street and at its Leeds-based headquarters.
"The brand Republic is well recognised and well respected by customers for offering quality, high fashion goods and it is a testament to its strength that Sports Direct has made this investment to secure its future and high street presence."
We’re assuming that the business will carry on as normal and that the stores won’t be turned into even more branches of Sports Direct.