Tue, 02 Jul 2013 | BUSINESS SALE
Fashion retail business Ark has been bought out of administration by JD Sports, with the majority of stores saved.
Begbies Traynor handled the sale of the business, which saw the new owners take on ten of the company's shops. Four stores have been closed, while 40 of Ark's 200 employees have been made redundant. The current management team has been kept in place.
David Acland, partner with Begbies Traynor, said that the sale will enable JD Sports to “continue its ambitious expansion plans, following on as it does from other key strategic acquisitions earlier in the year”.
He added: “It's no secret that many retail businesses are facing a hugely challenging environment at the moment, and this deal is a welcome piece of good news for the sector.”
Ark was owned by Rett Retail Ltd and it now joins the ranks of a number of distressed acquisitions that have been snapped up by JD Sports. These include Blacks Leisure and Gio Goi. It also owns Bank, Scotts and Millets, as well as operating out of its own branded stores.
A spokesperson for the buyer said: “We are delighted to have added the Ask fascia to our young fashion offer which brings with it some leading brands and a successful own brand offer [Cloak and Hearts and Bows].
“We look forward to supporting the established management team to develop the business further.”
____________________________________________________________________________
Related articles:
Multiple retail failures after rent day
View the latest retail businesses for sale
The business specialises in offering a range of consultancy and training solutions, including health and safety consultancy, training, ISO management consultancy, and fire risk assessment services. Operating on a regional B2B basis in the north of Sc...
Manufactures, supplies and installs structural steelwork, and designs and fabricates high quality steel products for internal and external applications
The company specialises in designing high-quality press and metal stamping tooling for the automotive industry. The company uses advanced CAD software, including CATIA V5 and Siemens NX, to support its comprehensive service offering, which includes d...
25
|
Feb
|
Kelso Pharma buys Alturix as it continues European push | BUSINESS SALE
Kelso Pharma has bought UK peer Alturix Holdings as it conti...
25
|
Feb
|
UK administrations update: February 19 – 25 | ADMINISTRATION
Since our last update, the following businesses have been co...
24
|
Feb
|
RAM Tracking sold by investment owner to Kerridge Commercial Systems | BUSINESS SALE
Leeds-based vehicle tracking and fleet management services p...
18
|
Feb
|
Aberdeen caterer snapped up by US food giant | BUSINESS SALE
Aberdeen catering firm Entier, set up by former chef Peter F...
10
|
Feb
|
Aeristech crashes into administration | ADMINISTRATION
Motor technology group Aeristech has crashed into administra...
06
|
Feb
|
Liverpool-based Carnival Brewing in administration | ADMINISTRATION
Carnival Brewing Company has fallen into administration. The...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.