JD Sports’ Dutch subsidiary Sports Unlimited Retail has been declared bankrupt.
Sports Unlimited, a subsidiary of Iberian Sports Retail (ISRG) owned by JD Sports, operates 52 stores across the Netherlands under the Sprinter, Aktiesport, and Perry Sports brands.
The control of the stores will now move to a bankruptcy trustee appointed by the district court of Amsterdam.
In 2016, JD Sports acquired Sports Aktiesport and Perry Sport out of administration and has since closed more than half of the stores, converting many of the remaining units to the Sprinter brand.
However, Sports Unlimited director Gerco Vonk informed staff that JD Sports’ 29 Dutch stores are not affected by the bankruptcy.
This development occurs as JD Sports pursues international expansion to establish itself as the “leading global sports-fashion powerhouse.”
The retailer aims to open 250 to 350 stores each year as part of the new CEO Régis Schultz’s five-year plan. The sportswear giant stated it was on track to increase its profits to more than £1bn this year.