Though at present late in its liquidation, which began in August, Intersport Spain set up on Sept. 4 a subsidiary called Retail Sport Intersport España, according to Modaes.
The new entity is headquartered in Madrid, rather than Barcelona, and its sole administrator is José María del Carre Díaz-Galve, founding partner of the Madrid law firm Del Carre Abogados. Its purpose, according to Spain’s commercial register, consulted by Modaes, is “the commercialization of diverse product classes and merchandise and collective buying, to include orders specific to the production of specific products, in accord with the shareholders’ needs.”
Intersport Spain comprises the brand and retail network in two lots
Speaking to Modaes, sources within the law firm of RCD Concursal, which has been handling the liquidation, say that Intersport Spain has put forth a proposal to auction off its assets in two lots, one comprising the brand and the buying group’s license, the other comprising the retail network. Intersport France, Modaes confirms from other sources, has so far been the lead bidder for the first lot and part of the second, along with some of the staff.
Intersport France’s initial proposal predates all the bidding. It had entered into negotiations directly with Intersport Spain to acquire such assets as the distribution license and the Spanish subsidiary’s shares in the Swiss parent company but not any debt. Intersport Spain rejected both this proposal and that of the Turkish company Eren, which owns Intersport’s business in Turkey.
Read on: Intersport International CEO Tom Foley stresses local approach
