Workers at sports retailer JJB Sports have been left facing an uncertain future after bosses admitted they were looking to call in administrators.
The business, which has stores in Magdalen Street, Oxford and the Castle Centre, Banbury employing about 16 staff, has been unable to find a buyer since being put up for sale on August 30.
Stores are continuing to trade normally but the company’s board has agreed to sell the business through an administration process, although no administrator has yet been appointed.
In the meantime, the company’s shares have been suspended.
In a statement the firm said: “The company currently hopes to be in a position to announce a sale of the trade, assets and brands of the group within the next few days.
JJB Sports was founded by entrepreneur Dave Whelan in Wigan in 1971. He sold his remaining stake in 2007 and the business has struggled to survive against major competitors in recent years.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article