allsports news and archive

Allsports runs out of cash

The privately-owned sporting gear retailer Allsports has encountered cash flow problems due to tough high street conditions. The group, which operates 276 stores, ran out of cash and directors of the company gave up the fight after debts rose to £20 million. Half of that debt is a secured loan which founding chairman David Hughes bought from...

Fashion

Allsports in financial crisis

Allsports has been forced to negotiate new agreements with its lenders after a collapse in trading left it close to breaking its covenants. The group has spent over a year looking for a new owner. According to accounts filed at Companies House Allsports recorded a loss of £1.2m in the 53 week period that ended in January 2004.A source close to...