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View more details on this retailer : Sports Direct International Plc		Close Window

	24/08/2012	Egi, Samantha McClary - Sports Direct folds ailing offshoot

	Mike Ashley pushed Gilesports into administration

	Mike Ashley has pushed one of his Sports Direct subsidiaries into administration. Administrators at niche accountancy firm Gallaghers were appointed to Gilesports earlier this month. Gilesports has been struggling for several years. The retailer, which once had a portfolio of around 80 stores, has been paying only rates on its stores since 2008 after ruling them no longer "commercially attractive to trade from". Several of the larger stores are understood to have been passed over to other Sports Direct brands since Ashley's acquisition of the firm. One landlord said: "I don't know if this is something that Sports Direct has done to exit its remaining leases or because of dilapidations, but it does make a mockery of lease agreements when a profitable retailer can just cut off its loss-making subsidiary." Sports Direct did not respond to enquiries.

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Mike Ashley pushed Gilesports into administration