Nike, Umbro and adidas owed millions by JJB - footwearbiz: Leading sit

News

Nike, Umbro and adidas owed millions by JJB

13/11/2012
UK-based sportswear retailer JJB Sports owed creditors £150 million when it went into administration last month, according to reports filed at the UK’s Companies House.

The statement of affairs lists the debts facing the parent company as £266.8 million, although £117 million of this was intercompany payments.

Adidas was owed more than £10 million, and Nike and Umbro were both owed £8 million.

JJB officially filed for bankruptcy at the beginning of October after protracted talks to save the troubled company failed. More than 2,200 were left without a job after only 20 of its stores found a buyer in high street rival Sports Direct.

Landlords were owed £9 million, the taxman was owed £2.9 million and Football Association of Wales was owed £600,000. Numerous small businesses were also left out of pocket.

Microsoft founder Bill Gates was known to be an investor, although it is unclear how much he lost.

footwearbiz.com cannot be held responsible for content if the language setting is changed from English.

The translations provided by Google Translate are automated and therefore might not be accurate and may contain incorrect, offensive or misleading language. We offer this facility as a guide only.