Goals Soccer Centres was put up for sale on Thursday following accounting issues.
Owner of Sports Direct (LON:SPD) Mike Ashley holds a significant stake in the soccer centre operator.
Shares in the soccer centre operator were suspended back in March.
Earlier this month, it was revealed that the accounting issues were much deeper than expected – a £12 million tax accounting scandal that stems back at least a decade.
“It has become very recently evident that there has been improper behaviour within the company,” Goals Soccer Centres said at the beginning of August.
Goals Soccer Centres said on Thursday in a company statement that it has commenced a process to invite offers for the business and its assets.
“This process is being conducted by Deloitte LLP, and follows their previous appointment as advisors to assess future corporate options for the company, announced on 18 June 2019,” Goals Soccer Centres said.
“There is no certainty as to the timetable or outcome of this process. Shareholders will continue to be kept informed of developments as appropriate,” the company added.
In July, Mike Ashley’s Sports Direct faced some issues with the publication of its preliminary results, sending shares in the business crashing.
Sports Direct blamed the complexities surrounding the integration of House of Fraser, which it purchased last year, for delaying the publication of its results.
According to the BBC, one analyst called the delay of results “an utter shambles”.
Sports Direct was also involved in a back and forth chess game with Debenhams earlier this year.
Goals Soccer Centres employs roughly 700 people and had a market value of £20 million when shares were suspended, according to Sky News.
Shares in Sports Direct International plc (LON:SPD) were trading at +1.65% as of 12:35 BST Thursday.
