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Sports Direct makes surprise bid for Austin Reed

Sports Direct is understood to be among the businesses seeking to buy Austin Reed out of administration.

Austin Reed store London

The sportswear retailer has tabled a surprise bid for the collapsed retailer, The Daily Telegraph reported this weekend.

Austin Reed Group went into administration on April 26, the day after BHS. Administrator AlixPartners received around 50 expressions of interest in buying the whole business, and offers came in at around the £30m mark, the newspaper reported.

Meanwhile, retailers are circling some of Austin Reed Group’s stores.

Earlier this month, Sports Direct boss Mike Ashley confirmed he had been in talks to save BHS but the deal fell through shortly before the department store collapsed into administration.

He said any continuing interest he had in BHS would be on the basis that all stores stayed open and staff kept their jobs.

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