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JJB Sports in talks with potential buyers

Struggling sportswear retailer JJB Sports has confirmed it is holding talks after receiving offers from "a number of parties" as it looks to secure the future of the company.

CITY & CORPORATE

JJB Sports in talks with potential buyers

Struggling sportswear retailer JJB Sports has confirmed it is holding talks after receiving offers from "a number of parties" as it looks to secure the future of the company.

The 180-strong chain put itself up for sale at the end of last month after it ran out of cash to fund a store refurbishment programme

On 30 August JJB invited offers to support further investment in the company, which was most likely to involve a sale of the firm or its assets.

The company said yesterday: "Following that announcement, a number of parties have submitted offers to acquire the whole or substantially all of the business and assets of the group.

"JJB continues to hold discussions with a number of parties but it is unlikely that any value will be attributable to the ordinary shares."

The JJB board is understood to be considering at least 10 bids for the business.

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