Republic in St Albans saved from shutting
- Credit: Archant
AILING fashion retailer Republic has been bought by Sports Direct saving more than 2,100 jobs.
The business, which has a store in The Maltings Shopping Centre, went into administration last month following sliding sales since the autumn.
But administrators Ernst & Young announced yesterday (February 28) Sports Direct has purchased the brand, 116 stores and the head office in Leeds for an undisclosed sum.
Joint Administrator Hunter Kelly said: “In what has been a very challenging time and volatile climate for retailers, it is particularly pleasing to have completed the successful sale of Republic (Retail) Limited, saving 2,100 jobs across the UK high street and at its Leeds-based headquarters.
“The brand Republic is well recognised and well respected by customers for offering quality, high fashion goods and it is a testament to its strength that Sports Direct has made this investment to secure its future and high street presence.
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He added: “We are extremely grateful for the support and loyalty showed by all employees and customers during what has been an uncertain time, and would like to thank everyone at Republic for their commitment and hard work during the administration process.”
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