JJB’s Wigan headquarters will close as Sports Direct is reportedly set to swoop on its rivals best-performing stores.
Speculation is now rife that the debt-laden company will not be able to avoid administration, meaning closure for half its stores putting thousands of jobs at risk.
The JJB board confirmed last week that offers from several potential buyers were being considered. However, they warned shareholders that their investment is likely to be worthless and it now appears a rescue deal is becoming increasingly unlikely.
Sports Direct, founded by billionaire Newcastle United owner Mike Ashley, is thought to be close to arranging a “pre-pack” administration deal to buy the most profitable stores.
The deal would allow JJB to be immediately sold following administration so Sports Direct could jettison loss-making branches.
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