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JJB Sports closes down in Basingstoke with a loss of 20 jobs
TWENTY jobs have gone at JJB Sports in Basingstoke after the store at Brighton Hill Retail Park closed on Monday.
The news came as KPMG, the administrators for JJB Sports, decided to close 133 stores throughout the country with a loss of 2,200 staff – 80 of which are in Hampshire.
Twenty remaining shops have been sold to Sports Direct International, including a store in Winchester.
David McCorquodale, corporate finance partner at KPMG, who led the sales process, said the level of cash and further operational restructuring required to rescue a more substantial part of the business was too much risk for most interested parties.
Richard Fleming, UK head of restructuring at KPMG, said: “Successive attempts to restructure the business, both financially and operationally, have not been enough to prevent the company falling into administration.
“Unfortunately a buyer could only be found for 20 stores on a going concern basis. All staff made redundant as a result of store closures have had their arrears of wages and holiday entitlements paid in full.
“Our team of employment specialists will be supporting staff on completing redundancy forms and putting them in touch with jobseeker services.
“We will now be reviewing what options are available for the remainder of the business, such as selling leasehold interests.”