Overcast

Overcast

max temp: 12°C

min temp: 9°C

Search

The pigs are coming. Find out more about

Pigs Gone Wild

here.

Suffolk/Essex: Jobs saved as Sports Direct acquires Republic stores

17:12 28 February 2013

The Republic store  in Ipswich

The Republic store in Ipswich

Archant

MORE than 2,100 jobs, including nearly 50 in Suffolk and north Essex, have been saved at fashion retailer Republic after the sale by its administrators of 116 stores to Sports Direct International.

The Sports World group, founded by Newcastle United FC owner Mike Ashley, has also taken over the stock, along with the group’s head office in Leeds and its websites and brands SoulCal, Fabric and Crafted.

The deal, the value of which has not been disclosed, comes after Republic called in administrators from Ernst & Young earlier this month.

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, 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.”

Among the Republic stores saved are those in Ipswich (which has 12 employees), Colchester (23) and Chelmsford (14). The only branches not transferring to Sports Direct are five in Scotland which have already been closed.

Around 250 jobs have been lost as a result of Republic’s collapse into administration, including nearly 100 at the five stores closed and 150 staff made redundant by the administrators at the group’s headquarters.

Following their appointment earlier this month, the administrators said that Republic, which started as a men’s denim retailer in 1986 under the Best Jeans brand, had been hit by a “sudden and rapid decline” in sales at the end of January, following a pick-up in sales in the run-up to Christmas after after poor trading results during the autumn.

Republic, which targets the competitive youth fashion market, sells brands including Jack Jones, SoulCal, Diesel and Firetrap.

It was bought by private equity firm TPG in June 2010 in a deal worth around £300million, with the founders understood to have retained a significant stake.

0 comments

Warning over online sextortion attempts

Sextortion’ reports to Suffolk police nearly trebled last year, according to the constabulary’s figures.

An Abellio Greater Anglia train

Frustrated rail passengers in Suffolk and Essex have signed a petition urging rail operators to reduce fairs involving bus replacement services.

Christchurch Street Ipswich

An Ipswich tenant smashed every window of an alleged drug-dealer’s car because he believed police had failed to take action.

Suffolk fire crew. Stock image.

A van on fire has closed the Station Road junction of the A137 at Tattingstone.

Footbath crossings are set to be closed on main lines in Suffolk

A total of 30 rail crossings in Suffolk could be closed in a bid to speed services on the main line to London and the cross-country route from Felixstowe to Ely and the midlands.

Holywells Park won a Civic Voice award

Holywells Park in Ipswich was one of just 11 renovation projects to scoop a national award today.

St Margarets Street, Ipswich, from Majors Corner, in the 1930s

From the Dock, now known as The Waterfront, to the streets in and around the town centre, we see many changes in Ipswich town centre.

The Suffolk Show 2015 - 
The grand parade.

The Suffolk Show has been a regular fixture on the calendars of generations of families and as this year’s event approaches, we thought we would test your knowledge of shows past and present.

An Abellio Greater Anglia train

Mainline train services running through Manningtree experienced delays of up to 25 minutes this evening.

The Deben Collective, playing a pop-up performance in Pettaugh ahead of this year's PettaFiesta festival.

The Deben Collective will be calling on Pettaugh phone-box on bank holiday Monday for a pop-up performance announcing this year’s PettaFiesta line-up.

Most read

Most commented

HOT JOBS

Show Job Lists

Topic pages

Streetlife

Newsletter Sign Up

Great British Life

Great British Life
MyDate24 MyPhotos24