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JJB Sports granted extra week to complete sale of fitness clubs

JJB Sports has had its banking arrangements extended for one week while it continues talks over the sale of its fitness clubs business.

The extension is understood to run to March 24, the day before rent quarter day.

JJB Sports is believed to be negotiating to sell its fitness club business to Dave Whelan, who founded the sportswear retailer. He is believed to have offered around £70 million.

JJB Sports said no additional fee had been attached to the extension.

Citing recent press speculation that JJB Sports might consider a Company Voluntary Arrangement (CVA) for some of its underperforming stores, JJB added in a statement: “The company confirms that it is currentlyexploring a number of solvent restructuring options which would be undertaken with the support of its lenders.”

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