Sports Direct, owned by Frasers Group, has signed lease on former store of Debenhams in Galway.
The move is being seen as a part of the British sportswear retailer’s strategy to further expand to the UK and Ireland.
The retailer already has around 60 stores in Ireland, but this one is the first in Galway.
Sports Direct’s expansion plans hold more relevance as it comes in the wake of Frasers Group’s recent warning of being hit by over €230 million due to pandemic.
Acquiring the Debenhams store in Galway should bring some cheers for the sportswear retailer, especially considering that owner Mike Ashley had made a failed bid for Debenhams earlier this year. Debenhams was later bought by Boohoo for £55 million.
Also Read: Boohoo buys Debenhams for £55 million
Sports Direct also recently said that it had plans to increase its sponsorship of grassroots Gaelic sport from 5 to 11 clubs across the nation.
It was clear from its statement that the focus would be to explore more opportunities in Ireland.
Established in 1982, Frasers Group generated £3,957.4 million in 2020.