Deathwatch: JJB finally in administration
Talks with potential buyers have come to nothing and now the inevitable administration phase has begun. We now expect someone (probably Sports Direct) to come along and cherry-pick the best bits of JJB, leaving the rest of the chain to wither and die.
It is expected that at least half of the nation’s JJB stores will close as a result of whatever comes next in this grim tale – with JJB’s 4,000 workers chewing their nails over their futures.
JJB has already restructured through two company voluntary arrangements and four emergency fundraisings. Even the fact that Bill Gates has been a shareholder hasn’t been enough to save them.