Sports chain JJB is to close 72 stores as part of a property shake-up.
In its results, for the year to 27 January, it said it had started to implement a plan to close 72 stores which it believes ‘will not make any significant contribution’.
All of the stores earmarked will close by the end of the month, although seven of the stores will be re-named Original Shoe Company, a business it bought in January.
It is also embarking on a refurbishment programme and said it plans to refit up to 40 stores during the current year in both our out-of-town superstore and high street superstore formats.
It said the ‘closures will leave us with a more profitable store portfolio that will be able to take full advantage of the other elements of our re-energisation plans’.
During the year it opened 14 new retail stores, reopened five stores while it closed 26 shops.
It has allowed £25m to pay for the costs of store closures.
Its portfolio now includes 192 out of town stores, 102 high street shops and 115 other stores with a total of 4.3m sq ft of selling space.