JD Sports drops as subsidiary enters administration

The price of shares in FTSE 100 retailer JD Sports Fashion (LON:JD.) fell by 2.13% to 633.20p (as of 11:30 BST) after it confirmed that it intended to appoint Administrators at Go Outdoors. The group said it had considered a number of strategic options and that Go’s directors had filed the notice in court.

The notice creates a 10 day moratorium around the company and its property during which creditors cannot take or proceed with legal action against the firm without court permission.