JJB Sports offers landlords £7.5m incentive to back rescue plan | Mail Online
JJB Sports today offered landlords a pay-out of up to £7.5 million if they accept a rescue plan that could see 89 stores close as it battles to stave off administration.
Troubled retailer JJB wants to close 43 of its 246 stores on or before April 24 2012, while a further 46 stores could be closed by April 24 2013 if their performance does not improve.
JJB, which employs 6500 people in the UK, last month asked landlords to agree to a company voluntary arrangement (CVA), under which they would be paid rent reduced by 45 per cent on 89 stores.
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