JJB to call in administrators

LinkedIn +

Troubled retailer JJB Sports had announced plans to go into administration after failing to find a suitable buyer for the business.

The company has struggled over the past couple of years. As part of its rescue programme, in November last year it brought in Lawrence Christensen as a non-executive director to beef up its supply chain. Christensen was for many years supply chain director of Safeway, before moving to Sainsbury’s.

However, JJB has continued to struggle in the weak retail market and the business was put up for sale in August.

In a statement, the board said any sale of the trade, assets and brands “will be effected through an administration process. Therefore it is expected that the process to commence the appointment of administrators of the Company and certain of its subsidiaries will begin today although the actual appointments are only likely to take effect just before the completion of any such sale. The Group will therefore continue to trade through all retail outlets outside of an administration pending completion of a sale process. It is proposed that Brian Green, David Costley-Wood and Richard Fleming, partners of KPMG LLP, will be appointed as the administrators of the Company and certain of its subsidiaries.”

Share this story: