default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Sports Direct Confirms $152 Million Headquarters Sale

The sportswear retailer has sold the freehold to its Shirebrook logistics centre to Malaysia's Employees Provident Fund.
Sports Direct Store | Source: Shutterstock
By
  • Reuters

LONDON — Sports Direct, the sportswear retailer owned by British billionaire Mike Ashley, has sold the freehold to its Shirebrook logistics centre to Malaysia's Employees Provident Fund for just over £120 million ($152 million) in cash.

Sports Direct, which will take a 15-year lease on the property, said the proceeds would be used for group operations and to boost its working capital.

Malaysia's Employees Provident Fund said in a separate statement it was attracted to the assured income stream the acquisition would generate, and as such the deal would complement its British property portfolio.

By Paul Sandle and Liz Lee; editors: Kate Holton and Jason Neely.

In This Article

© 2022 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from News & Analysis
Fashion News, Analysis and Business Intelligence from the leading digital authority on the global fashion industry.

Join us for our next #BoFLIVE on Thursday, February 16 at 15:00 GMT / 10:00 EST, based on our latest case Study How to Build a Profitable DTC Brand. BoF’s deputy editor Brian Baskin along with DTC correspondent Malique Morris and chief marketing officer of UK-based beauty brand Trinny London, Shira Feuer explore blueprints for growing a profitable brand.


The 10 themes in The State of Fashion 2023, the authoritative annual report from The Business of Fashion and McKinsey & Company, highlight how businesses can deploy realistic yet bold strategies to drive growth, even amid challenging times.




view more

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional Summit - An Inflection Point in Fashion Tech
© 2023 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy and Accessibility Statement.
BoF Professional Summit - An Inflection Point in Fashion Tech