JJB gives division the boot

Retail sports chain JJB Sports Plc has announced that it will put its loss-making Lifestyle division into administration, following a strategic review of the business.

Retail sports chain JJB Sports Plc has announced that it will put its loss-making Lifestyle division into administration, following a strategic review of the business.

The division comprises two subsidiaries, Original Shoe Company (OSC) and Qubefootwear. OSC is a retailer of clothing and footwear operating from 64 stores while Qube is a retailer of footwear operating from 13 stores.

KPMG has been appointed as administrator.

A preliminary takeover approach was made for the business last year but a deal failed to complete. Last month, the company announced that its Lifestyle division was expected to incur losses of around £15 million as a result of “extremely difficult trading conditions”.

JJB is also attempting to sell off its fitness business to pay down its £60 debt burden.

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary... More by Nick Britton