After their appointment as joint administrators of Allsports Limited, partners of BDO Stoy Hayward commenced an ongoing review of the business of the company. The administrators announced redundancies at both the companies Head Office in Bredbury, England, near Stockport, and at shops around the country and the need to cut over 1,000 jobs.
147 staff were made redundant at the Head Office and central warehouses in Greater Manchester this morning (out of a total of approximately 300 employed at these locations). In addition, 92 shops (out of a total of 264) have been closed with immediate effect and staff at those shops have been made redundant. Those shops affected, which the administrators deemed were uneconomic to keep running, have been listed separately as an appendix to this release.
The redundancies and shop closures have been anticipated for some time and todays announcement does not affect the hopes for a sale of the remaining business.
Staff from BDO Stoy Haywards offices around the country have visited all stores affected by the closures today to speak to all staff working at those sites today. Staff not working today have been contacted separately.
Dermot Power, Matthew Dunham and Simon Michaels, partners of BDO Stoy Hayward LLP, were appointed Joint Administrators of Allsports Limited, Allsports (Retail) Limited and Allsports.co.uk Limited on September 26, 2005. (Allsports)
