Qualified advisers answering your
Financial Questions
call 0800 092 1245

Are we set to see JJB disappear forever?

It has been revealed that arch rival JD Sports has made an indicative offer for the lifestyle chain of shops owned by JJB. While the move has not yet been officially confirmed it is believed that JJB is looking to sell off non-core assets in order to 'maximise shareholder value'. This is basically City talk for the group is up for sale!

While recent losses shocked the City, as did the refusal of the group's auditors to sign off the accounts without commenting upon the fragile financial position of the group, things have got worse over the last few days. At a time when the group was struggling it took out a £20 million bridging loan with Icelandic bank Kaupthing. There are fears that the loan will be called as soon as possible, placing yet more pressure on the already fragile balance sheet.

The last few weeks has seen more and more vultures circling some of the struggling giants of the UK high street. The truth is that it is not just JJB that is in the sights of the asset strippers with more and more companies getting more and more desperate for cold hard cash to get them through the downturn.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details