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JJB Sports boss Keith Jones steps down

Category: England

Published: 27th Jul 2012 16:04:32

The chief executive of JJB Sports, Keith Jones, has stepped down just weeks after a new chairman arrived to try to revive the struggling retailer.

Mr Jones, who joined in March 2010, has overseen a difficult time with Wigan-based JJB needing to raise extra funding three times under his tenure.

It avoided collapse in April after securing a £30m investment package.

On 9 July Bob Corliss, a US turnaround specialist, joined JJB to work on ways to improve its performance.

Mr Corliss, who previously ran US retail chain The Athlete's Foot, will formally take over as chairman in September.

JJB is in the middle of a cost-cutting programme designed to stem losses that totalled £100m last year, and has warned that sales in recent weeks have been poor.

Hurt by the economic downturn, it has also struggled to compete with rival Sports Direct.

JJB said in a statement that the board was in advanced discussions to appoint an interim chief executive, with a further announcement to be made in due course.

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BBC News, 2012. JJB Sports boss Keith Jones steps down [Online] (Updated 27th Jul 2012)
Available at: http://www.ukwirednews.com/news/1443164/JJB-Sports-boss-Keith-Jones-steps-down [Accessed 18th Apr 2014]

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