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	07/06/2013	Other, Ava Szajna - Sports Direct to close 20 Republic stores

	Sports Direct threatens to close 20 Republic stores

	My Retail Media reports that Sports Direct has threatened to close 20 Republic stores if landlords Intu Properties and Land Securities Group do not re-negotiate their leases and agree to lower rents. Sports Direct told the Telegraph that the 500 employees from the stores will be redeployed to other Sports Direct, Republic and USC stores. Three quarters of Republic’s landlords reportedly agreed to re-negotiate their leases, meaning around 80 of the retailer’s stores will remain open. It is thought that Land Securities and Intu are concerned about how the turnover of each store would be measured, given that Sports Direct has a growing online operation. The landlords also believe they can re-let the stores to other retailers.

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Sports Direct threatens to close 20 Republic stores