Mar 3, 2016
Unlimited Sports Group subsidiaries bankrupt
Mar 3, 2016
This includes Time Out, a franchise of Unlimited Sports Group. Since 2007, Unlimited Sports Group owned Time Out and operated through 53 shop-in-shop formulas in Perry Sport branches nationwide. In addition to Perry Sport, Time Out also had a shop situated in department store V&D and one independent store.
Apart from Time Out, USG Sourcing, Sports & Teamwear Benelux, Squadra Italia, SC Sport, Sport Illiminato Gruppo, Sportsgear Unlimited, 525 Victories, SL Services, High Tide, Teamsport Holding, Norsk Sport and Ruby Point Real Estate went bankrupt. These subsidiaries include the licensees of brands, such as Diadora, Champion and Tenson.
Twenty parties have shown an interest in a takeover of one of the Unlimited Sports Group subsidiaries, but there is no confirmation yet, as negotiations started this week.
The financial problems at Unlimited Sports Group and its subsidiaries started to emerge after the bankruptcies of Dutch department store V&D and shoe chain Scapino, where the sports chains operated with shop-in-shop formulas. Perry Sport had 11 shops in various V&D department stores, while Aktiesport had 128 units in Scapino branches.
Unlimited Sports Group consists of three divisions: USG Corporate, USG Brands and USG Retail. Next to Perry Sport, Aktiesport and Time Out USG Retail is also the parent company of Belgian sport chain Primo.
By Shomara Roosblad
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