Menu
Finance

Retailer JJB Sports Up For Sale, Warns Shares May Be 'Worthless'

JJB Sports has put itself up for sale and warned its shares may be worthless after "the struggling retailer failed to secure a fresh funding injection from investors," according to Jennifer Thompson of the FINANCIAL TIMES. JJB shares immediately fell 71% to $0.67 per share. The news "raises questions over the long-term future of the sports clothing and equipment chain," which operates from more than 180 outlets and employs more than 4,000 people in the U.K. and Ireland. JJB has spoken with shareholders and suppliers over the past month to "secure funding for a restructuring and turnaround." The company has already received new financing from its four largest shareholders -- Invesco, the Bill and Melinda Gates Foundation, Crystal Amber and Harris Associates -- in April as it "battled falling sales" (FINANCIAL TIMES, 8/30).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2012/08/31/Finance/JJB-Sports.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2012/08/31/Finance/JJB-Sports.aspx

CLOSE