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		</div><p>Mike Ashley&#8217;s Sports Direct has seized control of US retailers Bob&#8217;s Stores and Eastern Mountain Sports in a 101 million US dollars (£78 million) debt deal. The billionaire tycoon has acquired the chains by buying up the debts of their parent firm Eastern Outfitters, which filed for Chapter 11 bankruptcy protection in February.</p>
<p>The deal will see Mr Ashley take charge of around 50 retail stores in the US under the Bob&#8217;s Stores and Eastern Mountain Sports fascias, which sell clothing, sportswear and camping equipment. Sports Direct said the acquisition will provide it with a &#8220;footprint in US bricks-and-mortar retail and a platform from which to grow US online sales&#8221;.</p>
<p>Eastern Outfitters booked a pre-tax net operating loss of 26 million US dollars (£20 million) in the year to January 28, although the gross assets of the businesses being acquired stands at 126 million US dollars (£98 million).</p>
<p>Mr Ashley, who also owns Newcastle United FC, has courted controversy recently, coming under fire for presiding over &#8221;Victorian&#8221; working conditions at Sports Direct&#8217;s warehouse in Shirebrook, Derbyshire.<br />
The retailer has since moved to elect an employee to attend board meetings.</p>
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