Republic's co-founder invests in discount sales club

Tim Whitworth, co-founder of apparel chain Republic, has acquired

a stake in JTF and taken the role of chairman, working alongside chief executive Paul McClenaghan and the board. Whitworth has invested in the 70 million pounds turnover discount sales club.

JTF currently has twelve stores across the north and Midlands and was acquired by Endless, the Leeds-headquartered private equity investor, in 2009. Since then, the retailer has opened 4 new stores and grown turnover to surpass 70 million pounds.

"JTF has a sound business model, a loyal customer base and enormous potential," said Whitworth in a note Friday. "The business is on a solid foundation, from this, store roll out and e-commerce seem logical next steps for the business."

Endless managing director Chris Clegg added: "Tim's involvement in JTF is a significant step forward for the business, we are particularly pleased that Tim has agreed to chair the board as well as invest alongside us.

He co-founded fashion chain Republic in 2002, which was later sold in 2010 to buyout firm TPG for 300 million pounds. Sports Direct bought Republic from administrators in February 2013.