Eight Jack Wills UK stores to close

Sports Direct International has announced eight Jack Wills UK stores will close. These are Marlborough, Rock, St Albans, Tunbridge Wells, Derby, Reigate, Durham, and Kingston. Sports Direct, owned by Mike Ashely, bought Jack Wills for a cash consideration of £12.75m last week. Jack Wills, which has 98 UK stores altogether, went into administration on 5 August. A  Sports Direct spokesperson said: “Since rescuing Jack Wills from administration last week, we have been working hard with landlords to try and keep as many stores in the existing portfolio open. Unfortunately, the landlords involved with these eight stores have not cooperated. Where possible, Sports Direct is committed to finding new roles within the group for all affected Jack Wills staff.” Sports Direct has appointed CBRE to advise on all property-related matters following its acquisition of Jack Wills. CBRE has a long-standing relationship with Sports Direct. The property agent was also named sole adviser in August last year on all property matters related to its acquisition of troubled department store House of Fraser. To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette