UK sports retailer JJB said it plans to close 72 UK stores in a radical restructuring of its property portfolio, including a refit of 40 of its remaining stores. By the end of April, JJB will have closed 65 stores and reopened another seven under the Original Shoe Company brand. The company said it has set aside £25m (EUR31mln) to cover the costs of the closures, which mainly hit older and smaller stores.
UK sports retailer JJB said it plans to close 72 UK stores in a radical restructuring of its property portfolio, including a refit of 40 of its remaining stores. By the end of April, JJB will have closed 65 stores and reopened another seven under the Original Shoe Company brand. The company said it has set aside £25m (EUR31mln) to cover the costs of the closures, which mainly hit older and smaller stores.
'We are taking significant action to improve the performance of JJB's retail stores. Whilst we have identified a number of stores for closure, which will itself strengthen our remaining store portfolio, we are also investing to improve the quality of our stores and product with further store refits, the introduction of new products from our own brands and the implementation of staff training and incentivisation programmes,' chairman Roger Lane-Smith said.
