- 4 updates
Shadow Secretary of State for Work and Pensions Liam Byrne MP has said the announcement of some 2,200 job losses at JJB Sports is "very grim for Britain".
Thousands of jobs were lost today at the sports retailer after administrator KPMG closed 133 stores and sold the remaining 20 to rival Sports Direct International.
JJB's collapse will serve as another blow to the high street after recent high-profile casualties including video games retailer Game Group and fashion chain Peacocks.
The JJB name will vanish from the high street as Sports Direct intends to convert all stores as part of the deal, in which it also acquired all of the company's stock and the Slazenger Golf brand.
Richard Fleming, UK Head of Restructuring at KPMG, said about the closure of JJB Sports:
Following their appointment, the administrators KPMG completed an agreement to sell part of JJB Sports to Sports Direct International.
Sports Direct now has 20 of JJB’s stores, the brand and website, securing around 550 jobs in the UK (including the staff at the company’s warehouse).
The remaining 133 stores will close today, resulting in approximately 2,200 redundancies. A total of 167 employees will remain to assist the administrators.
Around 2,200 staff at JJB Sports have been made redundant after administrator KPMG closed 133 stores and sold the remaining 20 to rival Sports Direct International.