Allsports in financial crisis

Allsports has been forced to negotiate new agreements with its lenders after a collapse in trading left it close to breaking its covenants. The group has spent over a year looking for a new owner. According to accounts filed at Companies House Allsports recorded a loss of £1.2m in the 53 week period that ended in January 2004.A source close to Allsports said that the company was enduring "a torrid time financially"