JJB sells 20 stores to Sports Direct; 2,200 jobs axed
* JJB names KPMG as administrator
* Sells 20 stores to Sports Direct
* Deal worth 23.7 mln stg, plus potential 0.25 mln stg
* Remaining 133 stores closed, 2,200 staff made redundant
LONDON, Oct 1 (Reuters) - Debt-laden British retailer JJB Sports Plc on Monday said it had agreed to sell 20 stores to rival Sports Direct for almost 24 million pounds ($39 million), although 2,200 staff at its remaining shops would be made redundant.
Wigan-based JJB, which has been reporting losses since 2009, said administrators KPMG had agreed a deal with Sports Direct to safeguard around 550 UK jobs, but that the remaining 133 stores would be closed today. ($1 = 0.6193 British pounds)
(Reporting by Neil Maidment; Editing by Mark Potter)