UK: Potential buyers express interest in JJB Sports
JJB Sports has revealed that a number of parties have expressed interest in buying the troubled sportswear retailer.
More than ten possible buyers have received information on the retailer's sales performance, according to a report in The Financial Times.
Private equity firm Better Capital is among them, as are trade bidders, the report noted. Jon Moulton, chairman of the private equity firm, was rumoured to be looking to take over control of the business last month.
The first round of offers to buy the sportswear retailer are expected over the next week, the report added.
A spokesperson for JJB Sports told just-style today (4 September): "We are not commenting on the overall process, but a good number of parties have shown interest."
Better Capital has not yet responded to requests for comment.
The news comes after JJB put itself up for sale last week, as directors in the retail chain did not believe it could raise enough money to turn the business around.
A day later Dave Whelan, founder of the troubled sportswear retailer, said he may step in to save jobs by acquiring a number of stores for his DW Sports Fitness chain.
JJB Sports warned of poor sales in July after weak demand for replica football kits during the European Championships and poor weather meant trade fell below expectations.
Former JJB Sports executive chairman Sir David Jones has been charged with allegations of forgery and making misleading statements to the market in 2009....
The number of UK retailers collapsing into administration jumped 6% in 2012 and this figure could increase further in the year ahead, according to business advisory firm Deloitte....
Retailer Sports Direct International recorded a 25% surge in first half pre-tax profits, boosted by strong growth in online sales and the success of Team GB at the Olympics and Paralympics....
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