Hundreds of job losses at JJB Sports

Author: By Kelly Macnamara, Press Association

Administrators KPMG closed 37 OSC and eight Qube outlets with immediate
effect, resulting in the loss of 438 staff.

Richard Fleming, joint administrator and head of KPMG restructuring in the UK,
said: “It has been well documented that both companies have been running at
a substantial loss in the wake of extremely tough trading conditions on the
high street.

“Unfortunately, these losses have left us with little option but to close 45
of the stores upon appointment.”

He said all stock will be consolidated into the remaining stores, which will
continue to trade as administrators seek a buyer for the division.

OSC – which stands for Original Shoe Company – is a retailer of branded
clothing and footwear and operated from 64 stores across the UK. Qube sells
fashion footwear and had 13 stores in total.

The OSC stores to close include those in Edinburgh, Sunderland, Barnsley,
Leeds, Grimsby and Gloucester.

Qube stores in Carlisle, Maidstone, Ballymena, Falkirk, Bury St Edmunds,
Wrexham, Margate and Telford have also closed.

KPMG said the redundancies also included the loss of nine workers from the
division’s administrative office in Wigan.

JJB Sports announced plans to appoint administrators earlier this month after
reviewing its options for the lifestyle arm over a number of months.

It said the division had made an estimated £15 million loss in the year to
January 25.

Today JJB said: “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.”G

A remaining 32 stores – 27 OSC and five Qube – will continue to trade under
management of the administrators.

Along with the divisional headquarters, these employ 413 staff.

KPMG said: “Parties interested in acquiring the remaining stores and any
assets of the two subsidiaries should contact the administrators as soon as
possible.”

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