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UK rival Sports Direct makes pitch for Elverys

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Elverys has 56 shops nationwide

Elverys has 56 shops nationwide

Elverys has 56 shops nationwide

A takeover of sports chain Elverys by UK rival Sports Direct would be good for consumers and even help cut the cost of rugby shirts, the British chain has claimed.

A tie-up with Elverys would give Sports Direct access to the rugby market, including replica Munster Rugby shirts that maker Adidas will not currently supply to Heatons, which is 50pc owned by Sports Direct, the company said.

"The current Adidas segmentation policy is not in the interests of consumers, as restricting the supply of Adidas replica products has the effect of increasing the retail price for all consumers," it said in a statement. A combination of the two groups would be in the "interests of all the stakeholders", the UK company said.

Simon Coyle, of Mazars, was appointed as interim examiner of Elverys on February 4, with a formal court hearing to petition for a full examinership due on February 18.

That was after Sports Direct, and its 50pc-owned Irish company Heatons, voiced concerns that the business was on the brink of being sold at a price 25pc below what they were prepared to bid.

Lender NAMA petitioned for an examiner to be appointed, after the planned €10m sale of Elverys to a management group fell through.

With the company now in examinership, Mr Coyle must seek investment proposals from all interest parties, and any rescue deal will have to be approved by the High Court.

Irish Independent