Sports Direct in talks to buy US rival's stores

21st Jun 2016 07:34

(ShareCast News) - Sports Direct International and US retail peer Modell's Sporting Goods have begun joint talks about potentially buying several hundred stores from bankrupt rival Sports Authority, according to reports.Any bids for the sporting goods retailer's store leases are due on Thursday, the Wall Street Journal said, adding that Sports Direct and Modell's were mulling the purchase of around 200 stores.Having lost sales to online rivals, Sports Authority filed for Chapter 11 protection in March, since when it has tried to close weaker stores and locate a potential buyer.

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