Clothes store Republic saved from closure

Clothes store Republic saved from closure

Clothes store Republic saved from closure

First published in News This Is Local London: Photograph of the Author by , Chief Reporter

Struggling fashion retailer Republic has been bought by a sportswear giant, saving 116 stores and more than 2,100 jobs.

The Leeds-based company, which has a store in the Bentall Centre in Kingston, entered administration on February 13, following poor January sales.

But today, administrators Ernst & Young announced that Sports Direct had bought the company for an undisclosed fee.

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."

 

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