375
Fashion Jobs
SHISEIDO
FP&A Manager (Korean Only)
Permanent · SEOUL
AESOP
Aesop Hanam Starfield - Retail Consultant
Permanent · HANAM-SI
ADIDAS
Senior Specialist, Buying & Trading, E-Commerce
Permanent · SEOUL
ADIDAS
Manager, Personalization & Apps, E-Commerce
Permanent · SEOUL
ADIDAS
Senior Manager, Legal Counsel, Legal
Permanent · SEOUL
HENKEL
Finance Business Controller For Shiseido Professional Brand
Permanent ·
L'OREAL GROUP
[l'Oreal Korea] Kiehl's - CRM & Trade Mkt sr. Specialist~Manager
Permanent · SEOUL
L'OREAL GROUP
[l'Oreal Korea] (jr.) Claim Substantiation Specialist - Corporate Regulatory Affairs
Permanent · SEOUL
L'OREAL GROUP
[l'Oreal Korea] (sr.) Product Manager - Kerastase Marketing Team, Ppd
Permanent · SEOUL
UNDER ARMOUR
Associate, HR Administration
Permanent · SEOUL
ARKET
Visual Merchandising Manager
Permanent · BUSAN
PUIG
Marketing Manager
Permanent · SEOUL
JAEGER
[Jaeger Lecoultre] Marketing & Communication Director
Permanent · SEOUL
ESTÉE LAUDER COMPANIES
Corporate Account Executive For Travel Retail Korea, Estee Lauder Companies
Permanent ·
ESTÉE LAUDER - BRAND
Assistant Education Manager, Estee Lauder
Permanent · SEOUL
L'OREAL GROUP
[l'Oreal Korea] Luxe Div. - Lancome E-Commerce Specialist
Permanent · SEOUL
COS
Instore Visual Merchandiser Manager_seoul/Gyeonggi
Permanent · SEOUL METROPOLITAN AREA
AESOP
Shinsegae Gwangju - Retail Consultant
Permanent · GWANGJU
COACH
Manager, Ecommerce
Permanent · SEOUL
ADIDAS
Manager, Business Planning & Analysis, Wholesales
Permanent · SEOUL
HENKEL
Adhesive Key Account Manager For Sports And Fashion Market
Permanent · BUSAN
HENKEL
Consumer Brands General Manager Assistant
Permanent ·
Published
Jul 20, 2020
Reading time
2 minutes
Download
Download the article
Print
Text size

Go Outdoors landlords could get back just 1p in every £1 owed

Published
Jul 20, 2020

The unsecured creditors of JD Sports-owned Go Outdoors could get back only around 1p in the pound, according to the administrator. 


Landlords will be the main group to suffer following the Go Outdoors administration and buy-back



Given that JD Sports has already said that it would pay any taxes the chain owes, as well as branded suppliers, and that it will honour returns and gift cards, that leaves only its landlords footing the bill for the administration.

JD Sports put Go Outdoors into administration last month and quickly bought it back in a pre-pack deal, saying that unfair rents had been the biggest problem for the chain. The company said that it was locked into long lease deals that had clauses stipulating upwards-only rent revisions – something that was quite common in retail lease deals before the post-Brexit-vote downturn.

Deloitte, which was appointed administrator to the chain last month, sold the business back to JD Sports for £56.5 million with the loss of no jobs at the time. Records filed at Companies House said that Deloitte actually received as many as five offers for the business.

The Telegraph reported that Deloitte has granted JD Sports a license to continue operating the 67 Go Outdoors shops while the retail giant talks to landlords about cheaper rents. If it doesn't get better rent deals, it's likely that some branches will close, even though that not what's the company is aiming for.

Go Outdoors has been a disappointment for its parent company, which paid £112 million for it four years ago. The leases that it's unhappy about were in place before it bought the chain.

Copyright © 2024 FashionNetwork.com All rights reserved.