THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
JJB Sports calls in administrators

JJB Sports is preparing to call in administrators as shares in the struggling sportswear retailer were suspended this morning.

GENERAL MERCHANDISE

JJB Sports calls in administrators

JJB Sports is preparing to call in administrators as shares in the struggling sportswear retailer were suspended this morning.

The company announced a formal sale process for the business at the end of August as it looked to raise the funds required to turn the business around.

However JJB said in a statement today that although it had received a number of offers, none of the potential buyers wanted to purchase the company as a whole but instead made offers for parts of its business, assets and brands.

The statement said: "The sale of the trade, assets and brands will be effected through an administration process.

"The group will therefore continue to trade through all retail outlets outside of an administration pending completion of a sale process."

JJB has been battling for survival since being sold by founder and Wigan Athletic chairman Dave Whelan in 2007 and has undergone two company voluntary arrangements and four emergency fundraisings. Mike Ashley's Sports Direct is believed to be one of the frontrunners to buy JJB's stores of which there are 180 across the UK. The company employs 4,000 people.

JJB said it was appointing Brian Green, David Costley-Wood and Richard Fleming of KPMG as administrators and that any sale would be announced within the next few weeks.

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
Fix The Dinosaur Roundtable 2018
Fix The Dinosaur Roundtable 2018
19 October 2018
The Euston Suite, The Hallam, 44 Hallam St, London W1W 6JJ
A Masterclass in IBMi Legacy Issues