JJB Sports yesterday announced plans to shut 45 stores and said another 50 were under threat of closure in a proposed restructuring aimed at strengthening its finances.
The sports outfitter company has stores in Dundee (Murraygate), Perth, Dunfermline, Glenrothes and Kirkcaldy, but the outlets to be affected may not be known until later this month.
The company, which employs 6300 staff in about 250 stores, said it was seeking a fresh rent deal with landlords under a company voluntary arrangement (CVA) which will enable it to go ahead with the store closures.
JJB warned if it failed to reach an agreement the firm would face administration.
The CVA, which will be its second in as many years if approved, follows months of deteriorating trade and a recent bid to raise £31.5 million from its two largest shareholders.
In a statement the company said it has 45 stores which are significantly under-performing and which the group believe cannot form part of a property portfolio going forward.
It has about 150 stores which the group see as core to the future and a further 50 which are under-performing but have the potential to form part of the core group of properties.
These 50 stores will be kept under review for up to two years to determine whether they can become viable. If not they will be closed.
JJB is now a separate company from DW Sports. Dave Whelan, the former professional footballer and owner of Wigan Athletic, owned the former JJB Fitness Clubs and Stores but sold them in 2007.
Two years later he bought the fitness clubs and stores but later sold the stores.