Why was Jack Wills put up for sale?
Jack Wills was put up for sale earlier this year by its private equity owner Bluegem Capital. The brand had been facing cash flow pressure amid tough trading conditions on the high street. For the year to January 28 2018, Jack Wills made an operating loss of £14.23 million.
When did Jack Wills go into pre pack administration?
Advisers at KPMG said Jack Wills had been put into administration today (August 5), but was immediately sold to Sports Direct in a process known as a pre-pack administration. The sale, for which Sports Direct paid £12.75 million, includes all 100 UK and Ireland stores and stock, as well as a distribution centre, along with all employees.
Where are the Jack Wills stores in Somerset?
Jack Wills has two Somerset stores, one at Kilver Court in Shepton Mallet and one in Bath city centre. The company will come under a new division established at Sports Direct which will focus solely on buying and building fashion and sports brands, and report to Michael Murray in his role as head of elevation.
Who is the joint administrator of Jack Wills?
Will Wright, partner at KPMG and joint administrator, said: “Jack Wills has a strong brand and proud British heritage, so it is pleasing to have been able to secure this agreement with Sports Direct.” It is expected that the company will need to consider restructuring options, including potential store closures, in due course.
When did Jack Wills stop selling Aubin and Wills?
Aubin & Wills was launched by Jack Wills in September 2008 as a sister brand, aimed at customers, aged 25 and up. In November 2012 Jack Wills announced the decision to terminate the Aubin and Wills brand to concentrate on the global growth of the principal brand, with all trading ceasing by January 2013.
Where was the second Jack Wills store opened?
The brand was a success, with a second store being opened in Fulham, London, in October the same year. The store was ram-raided and was closed down, but a further store was opened in Aldeburgh, Suffolk.
Where can I buy old Jack Wills clothes?
Find all your favourite products from seasons past on our outlet site. Choose from classic shirts, heritage hoodies and comfy loungewear at a reduced price. Quick, before it’s gone for good!
When did Sports Direct Buy the Jack Wills business?
Sports Direct acquired the business for a sum in the region of £12.8 million, significantly less than its 2011 value. Since the first store opened in Salcombe, Jack Wills stores have opened across the United Kingdom and internationally.
