Mountain Warehouse has rescued US-based retailer Eastern Mountain Sports (EMS) for £7.6m ($10m) as it looks to expand its footprint stateside.
The outdoor retailer will pay £3.8m ($5m) for the EMS brand, website and seven profitable stores, as well as another £3.8m for its other assets.
The agreement will save more than 100 jobs at EMS, which filed for Chapter 11 protection – the US equivalent of an administration – on 18 June.
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The North American outdoor clothing and equipment retailer will continue operating as a standalone brand within the group and may expand into more territories including Canada and Europe in the near future, Mountain Warehouse said.
Founder and chief executive Mark Neale said: “We plan to retain the iconic EMS brand, which has a great heritage and DNA, and resonates with huge numbers of long-standing customers.
“We will also continue to work with the highest-quality and best-known outdoor brands in the world to stabilise and then grow the business.”
“We are convinced that there is a great business here, with a tremendous pedigree, and passionate people who can help us understand the market even better and create a bright future.”
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