JJB Sports losses widen.
JJB Sports has reported a £42.9m loss for the six months to July.
Losses at the retailer widened from £13.9m to £42.9m in the six months to July 26 while sales slumped by 21.3 per cent to £212.6 million.
The company avoided administration early in 2009 by placing the Group's two loss-making leisure footwear subsidiaries, Original Shoe Company Limited and Qubefootwear Limited, into administration, selling the Fitness Club business consisting of 53 fitness clubs with attached stores and related stock to Dave Whelan Sports Limited for a total consideration after adjustments of £79.3 million and implementating a CVA proposal in which the landlords of approximately 140 closed retail stores agreed to compromise their claims for rent under the leases, and the terms of open retail stores, approximately 250 in total, were temporarily varied.
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