By John Glenday

Distressed clothing retailer Jack Wills has been rescued from administration following the acquisition of business and assets by Sports Direct for £12.75m.

The deal will see the retail giant, whose subsidiaries include Lillywhites, Kangol, and Hargreaves, acquire all Jack Wills stores across the British Isles as well as the rights to the international brand.

Before the appointment of administrators, Jack Wills reported an operating loss (before exceptional items) of £14.2m with assets of £99m from which it made a net profit (after exceptional items) of £19.2m.

Suzanne Harlow, chief executive of Jack Wills, said: “For the past year, we Read full story ›

Source: The Drum