The Sprinter retail brand has posted a statement on its retail website confirming Sports Unlimited Retail (SUR) “was recently declared bankrupt”.
The statement explained: “The appointed curator is investigating what future options there are for Sports Unlimited Retail. Keep an eye on our website for more information.”
Local news site RTL Nieuws has reported the JD Sports subsidiary owns 54 stores across its three retail brands and employs around 1,100 people. The site also claimed Sports Unlimited Retail suffered a €9m ($9.70m) loss in 2021, but reportedly “did not fear for its survival because it was financially supported by JD Sports”.
JD Sports acquired Perry Sport and Aktiesport in 2016, after purchasing the Spanish Sprinter Group in 2011.
A spokesperson from Sports Unlimited Retail confirmed the bankruptcy to Just Style, stating that the company had appointed a bankruptcy trustee on 6 December, and added: “We appreciate this is a difficult time for SUR colleagues in the Netherlands and we are doing our utmost to support them in conjunction with ISRG and the bankruptcy trustee.”
The news comes after JD Sports announced it was acquiring Iberian Sports Retail, in a €500m deal announced in July 2023.
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In September, JD Sports Fashion’s H1 results showed a “subdued” increase of 8.3% for total group revenue, however an industry expert believed its acquisition focus would help drive its future performance.
At the time of the results JD Sports Plc CEO Régis Schultz commented: “We are going to accelerate JD brand growth in Europe through purchasing the non-controlling interest in both ISRG and MIG, and the acquisition of Gap stores in France. This is alongside the proposed acquisition of Courir in the region, which will, when completed, enhance the Group’s existing portfolio of complementary concepts, bringing into the company its market-leading focus on the female customer. Meanwhile, we are building and investing in talent and infrastructure to support future growth.”
Neither JD Sports had responded to Just Style’s request for comment at the time of going to press.