JJB confirms administration

JJB has confirmed it will appoint administrator KPMG today (September 24) and hopes to be in a position to announce a sale of the trade, assets and brands of the group within the next few days.

In a statement the struggling retailer said no value will be attributable to the company’s ordinary shares and the appointment of an administrator is only likely to take effect just before the completion of any sale.

The group will therefore continue trading through all its retail outlets.

The company’s ordinary shares have been suspended from trading on the London Stock Exchange’s AIM market with immediate effect.

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