UK sports company dumps loss-making Canterbury brand

Fri, 24 Aug 2012

Aug. 24 (BusinessDesk) - British sports retailer JD Sports is selling the iconic but loss-making Canterbury rugby clothing brand to its majority shareholder Pentland, after an unsuccessful three-year attempt to build the brand in the European and US markets. The sale to specialist sports footwear company Pentland is for 22.7 million UK pounds, all but one pound of which reflects the value of Canterbury's debt. JD Sports paid 6.5 million pounds for the assets of Canterbury in 2009, saying it intended to consolidate its hold on rugbywear, but h...

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