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Sports Direct buys chains to gain 'US footprint'

Sports Direct has announced that it has bought US outdoor and sports retailers Bob’s Stores and Eastern Mountain Sports from Eastern Outfitters for a total of $101m (£79m).

Eastern Outfitters had previously filed for chapter 11 bankruptcy protection in the US. Sports Direct’s offer has been approved by the Delaware Bankruptcy Court, and the deal is expected to complete during the first half of May.

The businesses sell sports and casualwear, as well as outdoor and camping clothing and equipment. In the year to 28 January 2017, the businesses incurred a $26m (£20.3m) pre-tax operating loss. Gross assets are valued at $126m (£98.4m).

The chains have 50 stores in the US, and Sports Direct said the deal will provide it with “a footprint in US bricks-and-mortar retail and a platform from which to grow online sales”.

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