Sports Direct To Buy 116 Republic Stores
Sports Direct is to buy 116 stores and the website from the administrators of fashion retailer Republic, saving more than 2,100 jobs.
Joint administrators from Ernst & Young confirmed the sale, which would include the head office in Leeds.
Administrator Hunter Kelly said: "In what has been a very challenging time and volatile climate for retailers, it is particularly pleasing to have completed the successful sale of Republic (Retail) Limited, saving 2,100 jobs across the UK high street and at its Leeds-based headquarters.
"The brand Republic is well recognised and well respected by customers for offering quality, high fashion goods and it is a testament to its strength that Sports Direct has made this investment to secure its future and high street presence."
Republic was originally established as a men's denim retailer in 1986 under the Best Jeans brand, in Leeds.
It currently offers casual fashion, under multiple brands to young adults, including the Jack Jones and SoulCal labels.
On February 12 Sky News City Editor Mark Kleinman revealed the retailer was poised to enter administration.
But hours later it still promoted itself as a viable concern with a tweet about its all-in-one outfits, known as onesies.
Republic was owned by private equity firm TPG, which had more than $54bn (£35bn) under management.
After the retailer went into administration on February 13, the investment firm's website still promoted Republic as "one of the United Kingdom's top young adult fashion retailers".
However TPG has since removed the retailer from its portfolio of more than 260 companies.
Republic's near-demise is the latest in a string of British high street casualties in the last six months.
Music and entertainment retailer HMV, DVD rental firm Blockbuster and camera specialist Jessops have all gone into administration this year.
In October, electricals chain Comet also called in administrators.