As reported in the Simply-docs blog entry of 25th September 2012, JJB Sports has been facing financial difficulties for some time. The sports clothes and equipment retailer has now been put into administration, with the loss of some 2,200 jobs. Sports Direct bought 20 stores but the remaining 133 stores closed with immediate effect.
Richard Fleming, the UK head of restructuring at KPMG, which is managing the administration process, 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.”
If your company is facing the prospect of having to make redundancies, ensure that you follow the correct procedures with the help of these professionally written template redundancy documents.