JJB Sports Draws Interest, But No Gets No Bids To Acquire Sports Retailer
Hopes are fading for a rescue of JJB Sports after one of the frontrunners to acquire the troubled sporting goods retailer "stopped short of submitting a bid," according to Andrea Felsted of the FINANCIAL TIMES. People familiar with the situation said that investment firm Better Capital, "did not submit a bid by the deadline on Friday." JJB Founder Dave Whelan said that he "would not be making an offer for the retailer but would instead be looking to pick up individual stores if JJB was bought or put into administration." People close to the process said that they were "encouraged by the level of interest" in JJB despite Better Capital not making a bid. Retailing structure company GA Europe is "among those groups" that are thought to have submitted offers (FINANCIAL TIMES, 9/9).