Sports Direct has saved speciality sportswear retailer Northgame Limited from administration after acquiring it for £261,000.
According to new documents published on Companies House Sports Direct subsidiary Lovell Sports purchased Northgame Limited, which trades under the name Barrington Sports, from administrators FRP Advisory in late May.
Barrington Sports, which specialises in hockey and cricket gear, fell into administration in April, leaving £1.6 million owed to unsecured creditors, according to The Telegragh.
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Its creditors include England Hockey, which is understood to be owed £88,000, the Marylebone Cricket Club which is owed £357,000, the All England Netball Association and the England and Wales Cricket Board.
Though Sports Direct’s bid for the company beat around six other offers, which included £261,000 for the company and a further £80,000 for a licence to occupy its premises, it is understood that creditors will see none of the money.
Later this week Mike Ashley’s high street chain is set to post recovering sales and profits, and analysts are expecting to see underlying profits to jump 55 per cent to £103.18 million.
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