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

Weekend newspaper round-up: Jan 31- Feb 1

The best of the fashion business related headlines from the weekend’s newspapers…

The Sunday Telegraph reported that JJB Sports chief executive Chris Ronnie is expected to be dismissed from the company within days, following an investigation into a share sale at the company. JJB Sports’ board ordered an investigation into how Ronnie’s 27.5% stake in the company had been offloaded last year, without being disclosed. The report said that board had concluded Ronnie must leave after contravening City rules. It added that former Selfridges chief executive Peter Williams, who joined the board at the beginning of the month, could be an internal candidate to replace Ronnie.

The Financial Times reported that Baugur, the Icelandic investment group, is to shut its Reykjavik office and lay off staff in London. The newspaper said that the group, which owns stakes in retailers including House of Fraser and Mosaic Fashions, was cutting costs.  

Sports Direct owner Mike Ashley is considering a bid for rival JJB Sports’ fitness club division, according to The Sunday Times. Ashley is understood to have formally logged his interest in making an offer with Lazard, the investment bank handling the sale. JJB Sports hopes to rise between £30 million and £50m from the sale. Other parties who have expressed interest include JJB Sports founder Dave Whelan, gym operator Fitness First, according to the report.

The newspaper added that the sale could be complicated by the need for any buyer to agree fresh rental agreements with JJB, as most of the fitness clubs are located above or next door to JJB Sports stores.

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.