Up to half JJB stores to close

JJB Sports, once the biggest sports retailer in Britain and Ireland, is to appoint administrators.

Five years ago, JJB’s shares were worth £10 but yesterday the stock was suspended.

The group will appoint KPMG as administrators in the next few days. Up to half of its 180 stores are expected to close, threatening many of the 4,000 jobs at the firm.

The company has three stores in Dublin, and one Limerick and Dundalk. A spokesperson said it was too early to speculate on the future of Irish jobs and stores.

JJB’s rise began when former Blackburn Rovers footballer and Wigan Athletic owner Dave Whelan bought a single store in Wigan in 1971, before an expansion drive saw it grow to more than 400 stores by 2007.

In 2007, Mr Whelan sold his family’s holding for £190m (€236m) to a joint venture by Icelandic financial group Exista and Chris Ronnie, previously of Umbro and Sports Direct.

The group was hit hard by the squeeze on consumer spending due to the financial crisis and by the stellar performance of rivals Sports Direct and JD Sports.