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Sports Direct gets all-clear from SFO

Sports Direct has reported that the Serious Fraud Office has dropped investigations into any individuals connected to the retailer.

The market leading sports specialist also said that it has completed a refinancing.

The SFO had been investigating Sports Direct and rival JJB Sports. The agency said last October that it would bring no charges against either retailer but was continuing to investigate certain individuals.

Sports Direct said today: “We can confirm that no individuals connected to Sports Direct are under investigation.”

Sports Direct has arranged a new, three-year unsecured borrowing facility of £220m through a club of 10 banks led by HSBC, Barclays and Handelsbanken.

Sports Direct chief executive Dave Forsey said: “The facility provides the group with ample funding to pursue its business and strategic objectives.”

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