Republic (retailer)

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Republic
Type Private
Industry Fashion retail
Fate Purchased by Sports Direct
Headquarters Leeds, England
Number of locations 116 stores (2013)
Area served UK
Key people Tim Whitworth
Employees 2,177
Parent Sports Direct[1]
Website www.republic.co.uk

Republic is a men's- and women's-wear retailer with 121 stores in the United Kingdom.[2] It is owned by Sports Direct.[1] In 2013 after being bought by Sports Direct the company was integrated into the USC brand.

History

Initially founded in 1985 as Just Jeans, after 1990 it changed its name to Best Jeanswear; Republic was launched in 1998. It was a private limited company (Republic (Retail) Ltd.) and, in 2005, Change Capital invested in the company to finance expansion plans. In May 2011 the company was bought by private equity firm TPG Capital.[3][4]

Administration and acquisition

Republic on Briggate, Leeds

Republic filed for administration on 13 February 2013, with Ernst & Young appointed administrators.[5] 150 head office staff were immediately made redundant, leaving 2,500 jobs at risk.[2] During the administration time, a total of 8 Republic stores closed, 5 in Scotland, with a further 2 closed in Northern Ireland and one in Middlesbrough, England. On 28 February 2013, Sports Direct bought 114 Republic stores, the brand name, all remaining stock and own-brands SoulCal, Crafted and Fabric (own-brand Miso was not bought) from the administrators.[6] Also bought was the company's head office. The total sum is unknown. [1]

20 stores will close as of June 2013.[7]

Position

The company is positioned in the mass sector of the clothing market, and has a focus on young fashion. They stock lines from casual brands including Bench, Fenchurch, G-Star Raw, American Apparel, Henleys and Drunknmunky, as well as their own brands SoulCal & Co, Miso, Crafted, Fabric, and ex-brand White Label. Before entering administration, Republic introduced a new own-branded line, @Republic.

References

  1. ↑ 1.0 1.1 1.2 "Republic fashion chain bought by Sports Direct". BBC News. 28 February 2013. Retrieved 28 February 2013. 
  2. ↑ 2.0 2.1 "Republic chain enters administration". BBC. 13 February 2013. Retrieved 13 February 2013. 
  3. ↑ FT
  4. ↑ Telegraph
  5. ↑ "Retailer Republic poised to fall into administration". City A.M. Retrieved 13 February 2013. 
  6. ↑ "Sports Direct International Plc - Acquisition of Republic". Sports Direct International. Retrieved 2 March 2013. 
  7. ↑ http://www.retail-week.com/companies/sports-direct/sports-direct-to-close-20-republic-stores-after-landlords-reject-rent-reduction/5049818.article

External links

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