Blog: JJB boss grilled over loan

Joe Ayling | 24 July 2009

Troubled UK sportswear retailer JJB has been hitting the headlines more during this past month for the antics of its executive chairman Sir David Jones than for the performance of the company.

Up the drama stakes with the involvement of Mike Ashley, the owner of arch rival Sports Direct who controversially loaned Sir David GBP1.5m, and it’s not surprising that today’s AGM was an eagerly-anticipated event. just-style’s news editor Joe Ayling even travelled up to the firm’s headquarters in Wigan to see the drama unfold for himself.

It had been suggested that billionaire Mr Ashley, the owner of Newcastle United football club, would turn up at today’s meeting, but he ducked out and sent a representative armed with difficult questions along instead. He was eventually escorted out of the building by the head of security.

Jones admitted that in hindsight he should not have agreed the deal with Ashley, but denied any conflict of interest from the loan. Ashley has also been stirring up trouble by questioning the timing of the agreement and whether it was made before or after Sir David joined the JJB board.

But JJB’s board has continued to stand behind the executive chairman and so, it seems, do the company’s workers. A banner strung from the railings outside the JJB HQ this-morning declared: “Sir David we are 100% behind you. From your 6,500 loyal employees.”


BLOG

A deep dive to unlocking digitisation's potential

So far, the promise of digitisation in the apparel industry remains largely unfulfilled. But with opportunities for new cheap supplier countries nearly exhausted, it is now seen as offering sourcing e...

BLOG

Kingpins Goes to DC – Watch now

The challenges and opportunities facing today’s textile and apparel industry is also explored in the second in a series of expert panel discussions that is now available to watch on demand...

BLOG

Industry outlook positive but disruptive

How is the global apparel sourcing landscape changing? According to executives at last month’s MAGIC fashion trade show in the US, "speed-to-market," "product differentiation" and "inventory control" ...

BLOG

Speed-to-market can be slow to achieve

It's easy for brands and retailers to see how they can potentially benefit from a successful speed-to-market program – but the irony is that without the support of strategic suppliers, it can be a lon...

just-style homepage



Forgot your password?