The UK’s largest sportswear company, Sports Direct, is said to have submitted a notice of intent to designate receivers for USC, its owned fashion retailer.
According to an unidentified industry source for Reuters, which broke the story first and to whom Sports Direct declined to comment, as a result, about a third of the company’s 90 UK-based stores would close. According to the media site, all of the brand’s stores would continue to operate. A corporation usually has ten days after formally notifying others of its intention to go insolvent.
Business magnate Tom Hunter sold USC to Frasers Group-owned Sports Direct in 2011. Sports Direct later merged USC with Republic, which it had purchased out of bankruptcy in 2013.
Their partnership only lasted until 2015, when Mike Ashley of Frasers pushed USC into administration, forcing the closure of some of its stores, many of which had been moved to Republic, as well as one of its warehouses.
Then, Republic Retail Limited, the parent company of Sports Direct, purchased USC out of administration, enabling it to resume operations.
Bharat Tex Special Report 2026 
