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Go Outdoors owes creditors £34m after pre-pack

Unsecured creditors of Go Outdoors were owed £34m.

The camping and climbing retailer was reacquired by JD Sports in a pre-pack administration last month.

JD reacquired Go Outdoors’ assets for £56.5m as a partial repayment against the latter’s debts.

It had paid £112m for the chain four years ago but blamed the pre-pack on store leases, agreed before it acquired the chain. It said the “extremely inflexible” terms meant rents would never decrease and were too long, with an average of ten years or more.

The Times (£)

 

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