JD Sports has bought the business and assets of Ark out of administration, saving 10 stores and the majority of the fashion retailer’s jobs.
The business, which sells leading young fashion brands as well as its own brands, will continue to trade from its Leeds office and the current management team has been retained. The sale of the business from the administrators of Rett Retail, Begbies Traynor, secures the jobs of 160 of Ark’s 200 employees.
As part of the deal, which was negotiated by administrators, uneconomic stores in Norwich, Cambridge, Merry Hilla and Manchester have closed.
DWF in Leeds advised the administrators.