JJB warns of store closures

JJB Sports could close up to 95 stores over the next two years.



JJB has announced plans to enter a company voluntary arrangement (CVA), which would release it from certain liabilities to its landlords.

If the deal goes ahead, the retailer would close up to 45 of its 246 stores over the next 12 months, with another 50 under review over the next 24 months.

It would be Wigan-based JJB's second such deal in two years, after it narrowly avoided going into administration in 2009 by striking a CVA with its landlords and creditors, which allowed it to walk away from leases on 140 stores.