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Exclusive: JD Sports snaps up Gio Goi

JD Sports Fashion has acquired young fashion brand Gio Goi, saving the business from administration.

It had previously been reported that sportswear giant Sports Direct had been eyeing up the brand but it is rival JD who has acquired the label from administrators KPMG.

Gio Goi went into administration in January after falling victim to the harsh economic climate.

Jane Moriarty and Colin Haig of restructuring firm KPMG were appointed as administrators.

Moriart confirmed both the brand and stock had been sold for an undisclosed sum.

She added: “The joint administrators will now concentrate on realising the remaining assest and winding down the companies.

“JD Sports Fashion is renowned for developing brands and will look to build on Gio-Goi’s rich history.”

 

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