Sports Direct acquires former Boyers department store in Dublin, Ireland

19 May 2016 (Last Updated May 19th, 2016 18:30)

UK-based retailer Sports Direct has acquired a former Boyers department store in central Dublin, Ireland, for €12.5m.

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.

"The Boyers department store was shut down earlier this year, which led to 83 job cuts."

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.