UK sports retailer JJB said it plans to close 72 UK stores in a radical restructuring of its property portfolio, including a refit of 40 of its remaining stores. By the end of April, JJB will have closed 65 stores and reopened another seven under the Original Shoe Company brand. The company said it has set aside £25m (EUR31mln) to cover the costs of the closures, which mainly hit older and smaller stores.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
