A campaign by Elverys Sports staff in support of a management buyout of the sports retailer has been successful.
A management team, led by chief executive Patrick Rowland, was selected yesterday as the preferred bidder for the company. The receiver will now have to put forward their proposals for approval by the creditors, including NAMA, and sanction by the high court.
Two rival bids from Heatons and Sports Direct had been lodged but it is believed the relationship with the previous owners of the company John and James Staunton, who still own the lease of a significant number of the company outlets, was a key factor in determining the outcome of the receivership process.
Elverys Sports operates 67 stores across the country including at Croke Park and the Aviva Stadium. It employs 700 people whose jobs have now been secured.
Fears had been expressed that because of crossover between stores that as many as 10 of the Elverys branches would have been closed under the rival bids.
Staff had conducted an online and social media campaign under the banner of #SOSElverys700 which had a major impact in terms of making people and politicians aware of how important it was to save the maximum number of long term sustainable jobs.
The continued rise in popularity of running, as well as the autumn unveiling of a new Irish international rugby jersey, and a new kit for Dublin GAA means that 2014 should be a strong year for retails sales of sportswear.
The decision will also be a relief for the different sporting teams and events supported by the company including the Commemarathon, Mayo GAA, the Gaelic Players Association summer camp series and more.
