Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

JJB Sports could offload OSC and Qube

JJB Sports could sell off some of its non-core assets including its Original Shoe Company and Qube chains as part of a review at the sportswear group.

JJB Sports said that discussions were ongoing about a potential sale of some of its assets to maximise shareholder value but declined to comment on what businesses were included. However speculation in the market suggests JJB is keen to get rid of its lifestyle division.

JJB Sports bought Original Shoe Company in December and added footwear chain Qube to its portfolio earlier this year in an attempt to create a lifestyle division which would rival some of JD Sports Fashion's more premium offer.

Last week JJB Sports appointed accountancy firm KPMG to advise and lead negotiations with its banks in a bid to secure its future after it was hit by tough trading and a plummeting share price.

JJB suffered the withdrawal of credit insurance for its suppliers and revelations emerged that landlords had sent bailiffs to some of its stores after the retailer sent out post-dated rent cheques.

JJB Sports is backed by Icelandic investment group Exista which has added to concerns over the sportswear chain's future.

Last month JJB Sports posted a loss of £9.7 million.

Meanwhile, rival sportswear group JD Sports Fashion is rumoured to be considering a 50p per share bid for JJB Sports. JD Sports Fashion did not return calls yesterday.

For all the latest news on the credit crunch visit our credit crunch homepage.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.