UK-based retailer Sports Direct has acquired a former Boyers department store in central Dublin, Ireland, for €12.5m.
The Boyers department store was shut down earlier this year, which led to 83 job cuts. Property developer Noel Smyth arranged the closure and sale of the store.
Last year, Smyth’s company Fitzwilliam Finance Partners acquired the Arnotts Group, of which Boyers was a part, for more than €100m.
Boyers is nearly a 110-year old retail chain.
Noel Smyth and Fitzwiliam Finance Partners decided to sell Boyers to concentrate on the Arnotts Group. This sale has attracted attention of two discount supermarket chains, Aldi and Lidl.
Established in 1982, Sports Direct is owned by Mike Ashley. It is the UK’s leading sporting retailer, which operates around 670 stores.