JJB calls time on its stores

0
Have your say

THE future of two Wearside stores are in doubt after a national chain announced plans to call in administrators.

Ailing JJB Sports has called time on a long-running battle to rescue the business.

The move, which is expected in the next few days, is likely to be accompanied by the sale of certain parts of the business under a pre-pack administration

The company, which has branches in Sunderland’s Timber Beach Road and at the Arnison Retail Park at Pity Me, has requested the suspension of its shares.

It said it was clear that any offer for the company would not realise any value for shareholders.

JJB says it will continue to trade through all its shops pending completion of the sale and administration process, though as many as half its 180 stores are expected to close, threatening a large number of the 4,000 jobs at the firm.

JJB said it expected KPMG would be appointed as administrators.