The best of the fashion business headlines from the weekend’s papers…
Troubled sportswear retailer JJB Sports is understood to have sold one of its helicopters used by suspended chief executive Chris Ronnie in a bid to raise cash, according to The Sunday Times. JJB Sports is thought to have sold the helicopter for £4 million to a Middle Eastern buyer and is looking for a second buyer for its other helicopter. The Augusta 109 helicopters were used by Chris Ronnie, who was suspended last week pending a share-dealing investigation. JJB Sports is thought to be looking for a further £1m for the other helicopter.
The Daily Telegraph also reported that Chinese manufacturer Bosideng had bought 87 of the 92 Greenwoods menswear stores, after the business went into administration. The deal will save 556 jobs.
The newspaper also reported that Harvey Nichols will open a store in Kuwait.
Sainsbury’s expects to find a successor to current chairman Sir Philip Hampton this year, according to The Sunday Telegraph.