UK: Better Capital no longer in race to acquire JJB?
Jon Moulton, chairman of private equity firm Better Capital, has failed to submit a bid for troubled UK sportswear retailer JJB Sports, according to reports.
Moulton did not make a pitch for JJB by the deadline on Friday (7 September), the Financial Times noted. However, restructuring company GA Europe is believed to have submitted an offer.
Meanwhile, Dave Whelan, founder of the struggling retailer, joined Moulton in not putting an offer on the table, but said he would be interested in acquiring individual stores if the chain collapsed into administration.
A spokesperson for the sportswear retailer said: "JJB is not commenting on the sale process at all, particularly on those who have or have not submitted a bid."
Last week, JJB said a number of parties had expressed interest in buying the sportswear business, with more than ten possible buyers requesting information on the company's sales performance a week after the retailer put itself up for sale.
Private investment firm OpCapita and sporting goods retailer Decathlon were also rumoured to have received information.
Moulton could not be reached for comment when contacted by just-style today (10 September).
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