JJB Sports investors lose patience with management

6 August 2012

JJBJJB Sports, who are officially 'knackered', are running out of time and favour as leading shareholders decided enough was enough and that a major restructuring was needed after all patience with management was lost.

Around 80 of the JJB's 180 shops could be shut down in a move that shows that shareholders can no longer take the poor performance of the management.

Invesco, who own 34pc of JJB’s equity, apparently wants to buy the sports retailer’s outstanding debt from Lloyds bank in a move to get control and sort things out. Also, Dick’s Sporting Goods who put £20m into JJB, are looking at further investment. Either way, all the investors are utterly unimpressed with the slow progress.  Avoiding administration twice in quick succession? Not good enough.

One investor said it was “premature” to talk about a debt buy-out. However, he said: “This demonstrates that the patience and tolerance of loyal shareholders has been exhausted. It’s a case of shareholders saying enough is enough.”

Whatever happens, JJB need a strategy and fast because, without one, it could be sent to an early grave.

TOPICS:   High Street News


  • Her L.
    How ironic, one of the countries biggest High Street suppliers of sportswear dies as the country celebrates possibly the biggest sporting successes of all time.
  • JGB
    JJb are closing even more stores... including alot of their 'clearance' stores. Goodbye JJB..the place where their alarm tags leave massive holes in clothing, which the hole then ends up becoming a tear in the fabric. The place where the prices are sky high ( even in the 'sales' ) I feel for the shop floor staff, some of them are really nice, especially one of the girls I met a few months back when I was window shopping, she calculated pretty well, she left for greener pastures a while ago.
  • JGB
  • King_luis
    What makes me laugh is that people are willing to go into to the official Nike Stores, Addidas, Puma stores etc and pay a higher price for product than they ever would in JJB. The problem for JJB was that beyond Football Shirts, trainers, boots and general sporting equipment they didnt sell fashion led sports kit but discount brands at high prices, thus missing out on the massive market for gym fashionistas.
  • Capability B.
    Cunts- all of them. Say goodbye to your jobbies!

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