JJB Sports to close 72 stores

JJB Sports said today it will shut 72 stores by the end of the month.The sportswear retail giant, which has more than 400 outlets, began implementing the closure plan earlier this year after a review of the business by new management.

JJB Sports said today it will shut 72 stores by the end of the month.

The sportswear retail giant, which has more than 400 outlets, began implementing the closure plan earlier this year after a review of the business by new management.

JJB Sports has two stores in Ipswich, in the town centre and Ransomes Europark.

It said the stores in question were unlikely to make any "significant contribution" to group profits and that many were already close to newer and larger stores in its estate.

The moves were announced as JJB said adjusted profits fell 28% to £33.8 million in the year to January 27. A £25 million hit relating to the cost of closing the stores meant bottom-line profits fell 72% to £10.8 million.