Sports retailer JJB Sports is facing a widely anticipated pre-pack administration, with the fate of its 180 stores and 4,000 employees hanging in the balance. In the meantime, all of its outlets are remaining open for business, but trading of its shares has been suspended.
The news comes as no surprise, as the company announced at the end of August that it was seeking a buyer to rescue the firm. Its shares, which were trading at almost £25 each back in 2007, are now worth less than a penny each.
This set of forms for Statutory Demands, Winding-up Petitions and Bankruptcy can help if your business is facing the prospect of insolvency.