JD Sports Group has confirmed it is seeking administrators for GoOutdoors, the retailer behind Calibre Bikes.
Calibre have rapidly become one of the go-to brands for budget bikes and recently impressed us with the Bossnut
that was a standout performer on our Field Trip despite being the cheapest bike on the test.
GoOutdoors have 67 retail stores across the UK that carry Calibre bikes as well as Raleigh, Diamondback and other camping and outdoor gear. JD Sports Group bought the brand for £112 million in late 2016 but filed a notice of intention on Friday to protect it from legal action while administrators were sought. JD Sports Group said:
"The group can confirm that it has considered a number of strategic options for Go and that Go’s directors have lodged the notice in court. This notice creates an immediate moratorium around the company and its property, which lasts for 10 business days. During this moratorium, Go’s creditors cannot take legal action or continue with any existing legal proceedings against the company without the court’s permission. Administrators have not yet been appointed and the group will make no further comment at this time.”
GoOutdoors was struggling in the second half of 2019 having posted a loss of around £40m in the six months to August. The brand's shops were then mostly shuttered in April although it was allowed to stay partially open as a bike retailer. It eventually fully re-opened at the end of May with safety measures in place to ensure social distancing, which included limiting the numbers of customers. The Guardian
reports that accountancy firm Deloitte is likely to lead a restructuring of the company, which could involve job cuts across its 2,300-strong workforce.