![]() |
|
JJB gives division the boot
Retail sports chain JJB Sports Plc has announced that it will put its loss-making Lifestyle division into administration, following a strategic review of the business.
The division comprises two subsidiaries, Original Shoe Company (OSC) and Qubefootwear. OSC is a retailer of clothing and footwear operating from 64 stores while Qube is a retailer of footwear operating from 13 stores.
KPMG has been appointed as administrator.
A preliminary takeover approach was made for the business last year but a deal failed to complete. Last month, the company announced that its Lifestyle division was expected to incur losses of around £15 million as a result of “extremely difficult trading conditions”.
JJB is also attempting to sell off its fitness business to pay down its £60 debt burden.

M&A News
- Alterian's Intrepid acquisition Sep 01 2010
- Dwell unlocks £5 million funding Aug 31 2010
- Moonfruit raises expansion funds Aug 31 2010
- Compass acquires Vision Security Group Aug 31 2010
- BGC Partners buys Mint Aug 25 2010
M&A Deals
- Stanley Gibbons expands its collection Sep 02 2010
- Longshot targets Bel and the Dragon Aug 31 2010
- The Art Group bought by Pyramid Aug 25 2010
- Tawa to buy Island Capital Aug 23 2010
- Metrodome hits the Target Aug 17 2010
