JJB Sports has entered into administration. The UK retailers founded in the north of England in 1971, opperating over 251 stores in the UK and Ireland, will continue with a sales process of the brand and trade assets.
The company was hit hard by recession and in 2011 underwent a major restructuring plan amidst risk of a hostile takeover by main rival JD Sports. Final offers have now been submitted, with the sale of the trade, assets and brands affected through an administration process, following discussions with advisors and a number of selected parties.
Administrators have appointed KPMG and an announcement regarding the sale is expected this week.