British retailer buys bankrupt U.S. chain

Britain's largest sporting goods retailer is extending its presence in the United States.



Sports Direct International Plc has bought Eastern Outfitters, parent company of Bob’s Stores and Eastern Mountain Outfitters. Sports Direct, which operates some 700 stores in the U.K. and continental Europe, has been wanting to expand in the United States. Last year, it bid for the intellectual property of Sports Authority, but lost out to Dick's Sporting Goods.



Eastern Outfitters, which operates about 90 stores, filed for bankruptcy protection in February



In addition to its namesake retail stores, Sports Direct has a portfolio of fitness, fashion and sports brands that include Everlast, No Fear and LA Gear. In February, it took an 11% stake in apparel brand French Connection. The company is under pressure to make acquisitions to boost profits to meet its growth targets, according to a report by The Guardian.