So, JJB tips into administration.
As an ex-employee of their much more successful rival, I should say Ha-ha?
But not really. From a pure image view JJB always looked sharp whilst Sports Direct makes Lidl look well presented. In market sports casual , or 'sofa clothes' share market Britain price and brand was all important. Mike Ashley at SD buys labels and brings the price way down, volume selling. JD just has better products, even if expensive. JJB never moved on price, preferring to keep its brands exclusive.The poor squeezed middle.
The model that had made them the largest sports retail company in 2006, was followed long after others were showing how to tread a different path.
JJB is set to close its remaining 180 stores and lose many of its 4,000 staff when KPMG are expected to be appointed to split up the company and sell what they can. Its long been reported here that they couldn't survive with the Gordon Brown style debts they'd built up in the good times, purchasing other companies and interests that were largely loss making.
As one wag has written
"They've had more lifelines than Chris Tarrant."
So..who's next? Can't see another old C@W favourite making it beyond the January rent bills.
HMV , for all the very innovative and solid business plans they have put into place still continues to slide. The Guardian reported that Sales down 14.8% – but retailer hopeful pre-Christmas music, DVD and games releases will boost performance.
yeah...hopefully. But if they are relying on the eighth year of the 'X' factor and Halo 4 and FIFA 2013 .. not that likely.