JJB has remained quiet on reports that Jon Moulton, chairman of private equity firm Better Capital, may be looking to take over control of the sportswear business.

Better Capital approached JJB's board and Lloyds Banking Group last week to buy the retailer's outstanding debt, according to Sky News.

The speculation follows earlier reports that various JJB shareholders were looking to force through a restructuring of the retailer to turnaround the company's financial performance. Invesco, which holds a 47.3% stake in JJB, was allegedly considering buying the retailer's outstanding debt.

In April, JJB Sports received GBP20m in funding from US retailer Dick's Sporting Goods, while Adidas said it would provide security for a two-stage loan of up to GBP15m to assist in JJB's store transformation plan

However, JJB last month said it was seeking further funding to boost the business following poor sales of football replica kits linked to the European Football Championships.

Less than two weeks later, the retailer named former La Senza commercial director Beverley Williams as interim CEO, following the resignation of Keith Jones.

JJB declined to comment when contacted by just-style today (13 August) while Better Capital has not yet responded to requests for comment.