The retail giant JD Sports Fashion is preparing to call in administrators at Go Outdoors, the chain it bought for more than £100m four years ago, in a further sign of the turmoil engulfing the high street during the COVID-19 pandemic.
Sky News understands that JD has filed a notice of intention to appoint Deloitte as administrator to the subsidiary, which employs about 2300 people.
Go Outdoors is understood to have run a sale process in recent weeks to canvas interest from potential buyers, according to an executive at another major retailer.
Sources said JD was expected to use an insolvency process to restructure the chain, which trades from more than 60 shops and specialises in camping, fishing and cycling equipment.
The Manchester-based retail group, which has a market value of £6.3bn, is said to be keen to retain control of a slimmed-down Go Outdoors.
If the administration is confirmed,