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Old 04-23-2024, 12:40 PM
 
87 posts, read 58,135 times
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Does JD have an American HQ? if not, that could be a plus for Bham to keep Hibbett HQ here.
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Old 04-23-2024, 12:43 PM
 
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There's also usually an ancillary loss of of service provider jobs (accounting firms & law firms) that service public companies. Usually audits, tax compliance, and legal work is handled at the corporate HQ. So whichever Birmingham firms were serving Hibbett's could be losing a big client when the deal closes as that type of work likely shifts to JD's HQ.

It's possible Hibbett would still get a standalone audit (albeit at a lower payment to the audit firm as a nonpublic company), but only if it were a separate company in JD's legal structure.
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Old 04-23-2024, 12:46 PM
 
452 posts, read 340,328 times
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Quote:
Originally Posted by TimCity2000 View Post
We still lose a publicly-traded company. And yes, Hibbett HQ will stay in the city (for now), but is there any guarantee the local presence won't get downsized? The "much stronger company" is now JD Sports, which is located in the UK.
Since it's an international acquisition, maybe it'll follow the Protective model where the foreign parent keeps the local HQ and management team and lets them operate as the American HQ of the business.

In Protective's case, headcount has grown a decent bit and the foreign parent provides deeper pockets.
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