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Following a spate of bad news for the firm, JJB Sports has appointed administrators for its ‘LifeStyle’ offshoots – Original Shoe Company Limited, and Qubefootwear Limited.
Several news websites, including The Guardian, Reuters and the Press Association, have estimated the number of staff made redundant by the move totals over 400.
Fleming, Costley-Wood and Nimmo of KPMG have been appointed administrators as both subsidiaries.
An announcement from JJB confirmed that the announcement will not affect other divisions of the business:
“The placing into administration of OSC and Qube is provided for in the terms of the Company’s extended standstill arrangement with its lenders and does not affect any of the Company’s other trading businesses.”
Earlier this year JJB Sports reported a loss before tax between £5 and £10 million at Christmas, while the chain suspended chief exec Chris Ronnie last month.
