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JJB rejects claims of breached banking covenants

JJB Sports has denied claims that it breached banking covenants.

The claims were in relation to a £15 million banking facility with Bank of Scotland. JJB Sports said that it refuted the claims on the advice of its lawyers DLA Piper and accountants Deloitte and Touche.

The sports and fashion business said that Barclays Bank had accepted that in their view there was no breach of covenant with regard to their £60 million banking facility.

The announcement follows the issue of the company's interim report this morning which contained a comment from the auditors referring to the claim.

JJB Sports said that it had negotiated new terms for its loan with the Bank of Scotland which did not intend to recall its loan.

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