UPDATED: Sports Direct acquires 116 Republic stores, including Bournemouth (From Thisisdorset)

UPDATED: Sports Direct acquires 116 Republic stores, including Bournemouth

12:40pm Thursday 28th February 2013 in Latest

SPORTS Direct's parent company has acquired 116 stores from the administrators of fashion chain Republic.

It is all but five stores that were closed in Scotland on Tuesday of the 121  that the chain ran and Bournemouth is included in the deal.

The chain, which has a shop in Commercial Road, Bournemouth, went into administration earlier this month as the latest well-known high street casualty.

More than 2,100 jobs have been saved at the fashion retailer.

The Sports World group - founded by Newcastle United owner Mike Ashley - has also taken over the stock, along with the group's head office in Leeds and its websites and brands SoulCal, Fabric and Crafted.

The undisclosed deal comes after the group called in administrators from Ernst & Young earlier this month.

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, 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.''