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More pressure on JJB Sports

It has been revealed that Barclays Bank, one of the largest lenders to JJB Sports, has this weekend drafted in an accountancy and restructuring firm to try and ascertain the damage to the company's balance sheet over recent weeks. This comes on the back of rumours about a potential offer from JD Sports and suggestions that the financial situation is set to get worse over the vital Christmas period.

If JJB Sports is not able to operate to its full capacity over Christmas this will mean the company missing out on vital sales which could help the group through this very difficult situation. While there is no reason to believe that the company is on the verge of going bankrupt, there are concerns that reducing credit lines, increasing debts and a slowing of the UK consumer market have all come together at the worst possible time.

There are also concerns that UK banks have shown very little inclination to assist troubled businesses in the current environment, with accusations that viable but troubled businesses have been cut adrift too quickly. Whether this is something which JJB sports might experience in due course very much remains to be seen.

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