JJB Sports news and archive

Former JJB Sports CEO sentenced to four years

Chris Ronnie, the former chief executive of JJB Sports has been sentenced to four years in prison and banned from being named a company director after accepting over 1 million pounds in a “very greedy” fraud. Ronnie was understood to be 11 million pounds in debt to Icelandic bank Kaupthing Singer Friedlander when he accepted bribes from three...

Fashion

Former JJB Sports CEO to stand fraud trial

The former chief executive officer of JJB Sports, Chris Ronnie, is set to stand trial today, after being accused of a one million pound fraud, which thought to have occurred prior to retailer's collapse into administration in 2012. The trial, taking place at Southwark Crown Court in London, sees Ronnie who was CEO at JJB Sportsbetween August...

Fashion

UK casualties of fashion

It has been a tough year for British high street fashion. The consumer downturn has seen customers think twice about spending their pounds on clothing and accessories and the result has been a string of businesses going into administration, being sold or shutting down altogether. This week Rare London, the young women's fashion chain, is thought...

Fashion

What’s next for JJB Sports: new owner, different name

Sports Direct has been forced to return JJB stores to administrators as the former was unable to complete deals on 14 out of 20 stores, after acquiring them in October. Meanwhile, Dave Whelan owned DW Sports has taken on several former JJB Sports stores across the UK. According to ‘Property week’, Mike Ashley's Sports Direct has returned most of...

Design

JJB Sports calls in administrators

Sports retailer JJB is to call in administrators today failed to attract a suitable offer. At the end of last month, JJB announced a formal sale process and saw interest from “a number of parties” over the intervening weeks though the company has now confirmed that the offer period has ended. Despite these offers to acquire the business, which...

Fashion

Ten pretenders for JJB Sports

Ten pretenders for JJB Sports Struggling British retailer JJB Sports have received proves of interest of ten different potential buyers. Among the names contesting for the ownership of the sports apparel chain are OpCapita and Hilco UK. Rumors about the future of JJB Sports have spread across the City, with everyone making bets on who will be...

Fashion

JJB Sports for sale

Sport and fashion retailer JJB Sports has put itself up for sale after it failed to raise new funds to help revamp its stores. The Wigan-based business, which has a staff of nearly 4,000 people and operates 180 stores, warned shareholders that any rescue deal may see their holdings in the company rendered worthless. Last month JJB said that...

Design

JJB Sports appoints interim CEO

Fashion and sportswear retailer JJB Sports has announced the appointment of Beverley Williams, the former LA Senza commercial director and co-CEO, as its interim chief executive officer with immediate effect. The announcement follows the decision by Keith Jones to step down from the Board of JJB Sports plc and his role as Chief Executive Officer...

Design

Dick´s Sporting Goods & Bank of Scotland rescue JJB Sports

Dick's Sporting Goods and Bank of Scotland are in conversations to rescue the troubled JJB Sports. The American retailer will invest an initial £20m into the British sportswear retailer, most of it in return for convertible notes. "We believe that the investment package and strategic alliance with Dick's will provide a real opportunity to...

Fashion

Retail insolvencies soar in 2011

Recent research shows that the number of retail insolvencies in the first quarter of 2011 increased by a staggering 30% from the same time last year. Financial services firm Deloitte says that there were 60 retail insolvencies in the UK during Q1 compared to 46 for the same period in 2010, which is the highest quarterly number for two years. Lee...

Fashion

Largest stakeholder joins JJB director’s board

Richard Bernstein, founder of Crystal Amber Fund, which has a 7.12 per cent stake in JJB Sports, has been appointed to the board of the Wigan-based retailer. Crystal Amber Fund director Richard Bernstein is the first shareholder to take up the right to hold a board position which JJB offered during its restructuring earlier this year. Harris...

Design

JJB Sport sees sales dive

Shares in JJB Sports have closed down 14% at 9.6p after the retailer reported smaller losses but warned that trading conditions were getting tougher. "There appears to be increasing caution in the market over discretionary expenditure," the company said. The retailer reported a loss for the six months to the end of July of £24m compared with a £...