Mike Ashley's Sports Direct has confirmed it has agreed a £120 million deal to sell its Derbyshire headquarters to KWAA Logix Sportivo, which is said to be owned by the Malaysian Employees Provident Fund (EPF).
The retailer said that on completion of the deal, it will also take a 15-year lease on the Shirebrook property and continue to operate it as a distribution centre, offices and retail business.
Sports Direct will use the sale proceeds to boost its working capital and put towards its group operations.
Former Rangers part-owner Ashley's near-30% share in Debenhams was recently wiped out when the department store chain fell into the hands of creditors. He is also reported to have agreed to sell Newcastle United FC.
