UK: JD Sports acquires Gio Goi youth brand
Sports and casual wear retailer JD Sports Fashion has acquired youth clothing brand Gio Goi - less than a month after it collapsed into administration.
Gio Goi called in administrators Jane Moriarty and Colin Haig from KMPG Restructuring Partners in January after struggling to return to pre-2009 growth levels.
Moriarty said: "Following our appointment as administrators to Gio Goi last month, I can confirm that we have successfully sold the brand and stock to JD Sports Fashion Plc for an undisclosed sum.
"The joint administrators will now concentrate on realising the remaining assets and winding down the companies. JD Sports Fashion Plc is renowned for developing brands and will look to build on Gio Goi's rich history."
The Gio Goi brand was distributed through JD Sports, USC, Littlewoods, Republic and Lifestyle in Ireland as well as a network of independent retailers. The company employed 24 people before it fell into administration.
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