JJB falls into administration - FT.com Shares in Aim-traded JJB Sports were suspended on Monday after the sports wear retailer said it had fallen into administration having failed to find a buyer. The struggling group put itself on the block in August after a series of unsuccessful attempts to turn round the business. JJB had been in talks over the past month with potential suitors such as Mike Ashley's Sports Direct International and Irish conglomerate Stafford Group. Other bidders that had considered snapping up JJB included rival JD Sports Fashion, French sporting goods retailer Decathlon, and OpCapita, the private investment firm. However, JJB on Monday said that although it had received offers for parts of the business, no offer had been made for the group as a whole, which the retailer said was likely to leave shares in the group worthless. The shares, which traded above £10 in 2008, were suspended on Monday at 0.4p. JJB said: "The offers received include offers to acquire certain of or substantially all of the trade, assets and brands of the group. However, the board notes that it does not have and does not now expect to receive an offer for the shares of JJB. KPMG has been appointed administrator in an effort to recoup some value for shareholders, who have seen JJB struggle through two company voluntary arrangements and emergency fundraisings in attempts to survive. Although the retailer will continue to trade from its 180 outlets, store closures are likely, putting more than 4,000 jobs at risk. One of sticking points in JJB's attempts to find a buyer was the preference of suitors to "cherry pick" the best stores and brands, rather than buy the whole company. JJB on Monday said it hoped "to be in a position to announce a sale of the trade, assets and brands of the group within the next few days." Any sale is likely to be by way of a "pre-pack" administration - the pre-negotiated sale of an insolvent business. Mr Ashley, the owner of Newcastle United Football Club whose Sports Direct International is a market leader in UK sports wear retailing, has eyed 80 of JJB's 180 stores, but any such move could attract the scrutiny of the UK's competition regulator.