USC bought out of administration by Sports Direct fashion arm Republic

A week after company directors at Sports Direct filed a notice of intention to put USC into administration, news has emerged the fashion retailer has been bought by another fashion fascia from Sports Direct, Republic.

The notice of intention is said to have put hundred of employees who work at USC stores at risk and was believed to have been brought around by a request for repaymenst from Diesel for unpaid debts.

However, on Friday morning reportes emerged that USC had been acquired by Republic.com Retail Limited. By doing so, Sports Direct has ensured that all USC stores and staff working in the retail locations have been kept on board and remain open for trading.

Duff & Phelps had been appointed joint administrators, with managing directors Philip Duffy and Geoffrey Bouchier asked to oversee the administration with Robert Palmer from The Gallagher Partnership.

“West Coast Capital (USC) Limited underwent a very successful financial restructuring process and sale; this leaves the business in a stronger position to carry on trading," commented Duffy. "We are pleased that following the process all stores continue to trade."