Sports direct buys two US chains in £78m debt

Mike Ashley's Sports Direct has seized control of US retailers Bob's Stores and Eastern Mountain Sports in a 101 million US dollars (£78 million) debt deal.

Sports direct buys two US chains in £78m debt
Fri, 21 Apr, 2017 - 09:46

Mike Ashley's Sports Direct has seized control of US retailers Bob's Stores and Eastern Mountain Sports in a 101 million US dollars (£78 million) debt deal.

The billionaire tycoon has acquired the chains by buying up the debts of their parent firm Eastern Outfitters, which filed for Chapter 11 bankruptcy protection in February.

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