Richard Fleming, UK Head of Restructuring at KPMG, said about the closure of JJB Sports:
Successive attempts to restructure the business, both financially and operationally, have not been enough to prevent the company falling into administration. Unfortunately a buyer could only be found for 20 stores on a going concern basis.
All staff made redundant as a result of store closures have had their arrears of wages and holiday entitlements paid in full. Our team of employment specialists will be supporting staff on completing redundancy forms and putting them in touch with job seeker services. We will now be reviewing what options are available for the remainder of the business, such as selling leasehold interests.