Billionaire family behind sportswear empire Pentland to cut almost 100 jobs

The job losses are expected to be made by the end of September

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The billionaire family that owns a majority stake in JD Sports has announced plans to cut almost 100 jobs at its retail empire.

The Rubin family hired consultants from McKinsey to advise on a new strategy for Pentland Brands, which owns the likes of Speedo, Ellesse and Berghaus.

A total of 90 jobs are expected to be lost in a move which the group said will "simplify the way its business is organised".

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In a statement, the company said it plans to focus more resources on product, digital, consumer data and analytics.

Pentland Brands is also to open a new office in London which the business said would not impact its sites in Nottingham and Sunderland.

Chief executive Chirag Patel said: "We're a growing business with 2023 revenue and profit expected to exceed pre-pandemic highs.

"Our plans will accelerate this growth and position us at the forefront of digital innovation and consumer engagement, at a moment in time when our brands are more important than ever in helping people to live more active and healthy lives.

"With our new hub in the heart of London, we will create a collaborative space with a strong culture and community.

"A creative place where our teams and our brands can thrive, grow and deliver on our purpose to pioneer brands that make life better."

Pentland Brands said the "business changes" are expected to take place by the end of September while its new London office is due to open in early 2024.

The group can trace its roots back to 1932 when Berko and Minnie Rubin, immigrants from eastern Europe, started the Liverpool Shoe Company. The business delisted from the stock market in 1999.

According to its most recently-filed accounts, the group achieved a revenue of £1.9bn in 2021 and pre-tax profits of £85m.