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JJB Sports landlords could lose over £40m a year

Landlords of some JJB Sports stores could be set to lose £37.5m in rent and £5m a year in services after stores closed as a result of the administration.

Landlords of the JJB Sports shops that administrator KPMG has disposed of could also have to fork out £17m in rates, according to research commissioned by The Times and undertaken by Jones Lang LaSalle.

JJB Sports plunged into administration last week with Sports Direct taking on 20 shops, its stock, the Slazenger Golf brand licences as well as its freehold property in Wigan.

Last Monday, 133 JJB Sports stores were closed after the retailer finally hit the buffers.

Readers' comments (3)

  • Any landlord must of known that there was a very high chance that JJB would go belly up, so any losses you could argue are self inflicted.

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  • Doesn't your heart go out to those poor under worked / over paid, upwards only rent revewers. Some satisfaction in that what goes around, comes with it.

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  • No sympathy here, I'd like to come back as a landlord rather than a retailer, upward only rents, tenants pay mostly the landlords buildings insurance, high dilapiidations on tenant exit, and quarterly rents upfront, what a lovely life

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