Sports Direct is breaking into the US with a $101 million deal.

LONDON — Sports Direct has bought a bankrupt American retail chain, giving it a foothold in the US for the first time.

Discount sports retailer Sports Direct announced on Friday that it is buying Eastern Outfitters out of bankruptcy.

Eastern Outfitters owns discount chain Bob's Stores and Eastern Mountain Stores, which sells camping and outdoors equipment. Sports Direct's interest in Eastern Outfitters was first reported in February.

Under the terms of the deal, Sports Direct is spending a total of $101 million (£78.8 million) on paying off Easter Outfitters' debtors, acquiring some of its debt, and in loans to the company.




By Oscar Williams-Grut.
Full story at Yahoo News.