JJB Sports,the UK retailer, said it intends to place two loss-making footwear subsidiaries into administration, a form of bankruptcy protection. JJB said its lifestyle division, which operates 64 Original Shoe Company Ltd. stores and 13 stores under the Qubefootwear Ltd. brand, continues to trade at a substantial loss.
“The directors of each of OSC and Qube have decided to file notice of intention to appoint Messrs. Fleming, Costley-Wood and Nimmo of KPMG LLP as administrators of OSC and Qube, respectively,” JJB said in a statement to the London Stock Exchange.
The two operations have 270 full-time employees and 530 part-timers.
