JJB Sports in talks with potential partner

JJB Sports has seen its market value soar after the

company announced it found a 'potential strategic partner.' American fashion sporting chain Dick's Sporting Goods, which has nearly 500 shops in the US, is thought to be in negotiations with JJB about acquiring a minority stake, which would provide it with funds to help safeguard its medium-term future.

JJB has been ailing for almost three years and narrowly avoided administration in 2009 and again in 2011.

Shares in JJB rose by 5.75p, or 56.1 per cent, to 16p yesterday.

Also read this article about the rescue of JJB Sports