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24/09/2012
JJB Sports Prepare To Call In Administrators
Shares in sportswear store JJB Sports has been suspended as the struggling retailer prepares to call in the administrators.
The firm said it would continue to trade through all of its outlets while it readies a widely anticipated pre-pack administration.
The process will wipe out the value of JJB's existing shares and enable it to write off much of its debts.
The fate of its 180 stores and 4,000 employees has yet to become clear.
KPMG are now expected to handle the formal administration process once terms of the business' sale have been agreed with a potential buyer.
At the end of August JJB Sports announced that it was seeking a buyer to rescue the firm
Although the Wigan-based retailer received a number of offers, none of its suitors was interested in buying the company as a whole, but instead made offers for parts of its business, assets and brands.
The failure of the sale process was widely anticipated, and JJB's shares have been valued at less than a penny each since the decision to seek a suitor was first announced.
(H)
The firm said it would continue to trade through all of its outlets while it readies a widely anticipated pre-pack administration.
The process will wipe out the value of JJB's existing shares and enable it to write off much of its debts.
The fate of its 180 stores and 4,000 employees has yet to become clear.
KPMG are now expected to handle the formal administration process once terms of the business' sale have been agreed with a potential buyer.
At the end of August JJB Sports announced that it was seeking a buyer to rescue the firm
Although the Wigan-based retailer received a number of offers, none of its suitors was interested in buying the company as a whole, but instead made offers for parts of its business, assets and brands.
The failure of the sale process was widely anticipated, and JJB's shares have been valued at less than a penny each since the decision to seek a suitor was first announced.
(H)
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16 April 2008
JJB To Close 72 Stores After Profits Slump
JJB Sports has announced it is closing of 72 of its stores and axing 800 jobs following a massive fall in its annual profits. The Wigan-based sports retailer and health clubs group, which currently employs 1,200 people in more than 400 stores throughout the UK, revealed adjusted profits fell sharply, down 28.5% to £33.
JJB To Close 72 Stores After Profits Slump
JJB Sports has announced it is closing of 72 of its stores and axing 800 jobs following a massive fall in its annual profits. The Wigan-based sports retailer and health clubs group, which currently employs 1,200 people in more than 400 stores throughout the UK, revealed adjusted profits fell sharply, down 28.5% to £33.
17 September 2012
JJB Sports Takeover Deal Threatens 2,000 Jobs
Sports Direct International may finalise a deal to take over struggling rival JJB Sports, in a move that could see around half of JJBs 180 stores closing and the lose of almost 2,000 jobs. The bid from Mike Ashley, owner of Newcastle United Football Club and founder of Sports Direct, is currently the leading contender of the eight tabled.
JJB Sports Takeover Deal Threatens 2,000 Jobs
Sports Direct International may finalise a deal to take over struggling rival JJB Sports, in a move that could see around half of JJBs 180 stores closing and the lose of almost 2,000 jobs. The bid from Mike Ashley, owner of Newcastle United Football Club and founder of Sports Direct, is currently the leading contender of the eight tabled.
30 August 2012
JJB Sports Up For Sale
Sports chain JJB Sports has put itself up for sale. This follows a failed attempt to raise funds for the revamp of up to 180 stores. The Wigan-based retailer, which employs about 4,000 people, warned shareholders that a rescue deal may see holdings in the company rendered worthless.
JJB Sports Up For Sale
Sports chain JJB Sports has put itself up for sale. This follows a failed attempt to raise funds for the revamp of up to 180 stores. The Wigan-based retailer, which employs about 4,000 people, warned shareholders that a rescue deal may see holdings in the company rendered worthless.
01 May 2003
Consumer groups chew out Cadbury’s sports scheme
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Consumer groups chew out Cadbury’s sports scheme
Consumer groups have branded Cadbury's Get Active promotion scheme as an “irresponsible ploy to encourage unhealthy eating among kids”. Cadbury's 'Free Sports Kit 4 Schools' scheme offers sports equipment to schools in exchange for Cadbury's chocolate bar wrappers, claiming that it will encourage children to get more active.
19 July 2013
Sports Direct Staff Cash On Company's Success
Staff at retailer Sports Direct are to share in windfall profits with six bonus payouts. In the past year, the company's profits have grown by 40% to more than £200 million. Some 2,000 staff will now receive bonus payments worth £100,000 each.
Sports Direct Staff Cash On Company's Success
Staff at retailer Sports Direct are to share in windfall profits with six bonus payouts. In the past year, the company's profits have grown by 40% to more than £200 million. Some 2,000 staff will now receive bonus payments worth £100,000 each.
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