Jobulo | JJB Makes Redundancies - Jobulo
2409
post-template-default,single,single-post,postid-2409,single-format-standard,ajax_fade,page_not_loaded,smooth_scroll,

Employment News Stories

All the latest news from the world of employment.

JJB Makes Redundancies

jjbOver 100 JJB stores have closed across the country, resulting in thousands of redundancies.

The company’s administrators confirmed that the closure of 133 stores will see more than 2,000 redundancies made across the UK.

JJB, which was once worth £1bn, was put up for sale last month but saw minimal bids from investors. Despite being one of the biggest sports brands in the country, the company has suffered with losses for the past few years and debts of up to £45 million.

There were originally 400 stores across the country however this has rapidly decreased. The closures follow a deal which sees some of the stores bought by large retailer and competitor Sports Direct. Sports Direct, managed by Newcastle FC owner Mike Ashley, have bought 20 JJB stores, the brand and the website for £23.77 million. The deal is thought to be completed when stock takes are undertaken and a further £250,000 is paid.

As a result of the deal with Sports Direct, over 500 jobs have been saved including those working in the main warehouse. Employees from the remaining 133 stories will be out of work although 160 workers are thought to stay on for a period to help administrators.