Update: Jobs saved in Exeter as Republic is sold to Sports Direct
More than 2,000 jobs have been saved after administrators of stricken fashion chain Republic sold the business to a subsidiary of Sportsdirect.com Retail Ltd.
The sale of the business, for an undisclosed sum, includes the brand, 116 of the company's 121 stores and the head office in Leeds.
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Republic in Exeter High Street
Administrators have confirmed that the Exeter High Street store, where 38 staff are employed, is among those sold to Sports Direct.
Five stores in Scotland were not included in the deal.
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Joint administrator Hunter Kelly, of Ernst & Young LLP, said: "In what has been a very challenging time and volatile climate for retailers, it is particularly pleasing to have completed the successful sale of Republic (Retail) Ltd, saving 2,100 jobs across the UK high street and at its Leeds-based headquarters.
"The brand Republic is well recognised and well respected by customers for offering quality, high fashion goods and it is a testament to its strength that Sports Direct has made this investment to secure its future and high street presence.
"We are extremely grateful for the support and loyalty showed by all employees and customers during what has been an uncertain time, and would like to thank everyone at Republic for their commitment and hard work during the Administration process."
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