Mon, 17 Sep 2012 | BUSINESS SALE
JJB Sports, the long-troubled sporting clothing and accessories retailer, is rumoured to be firmly in the sights of its rival Sports Direct.
Reports suggest that Sports Direct could be planning to snap up the firm in a pre-pack administration deal some time soon.
Mike Ashley, who owns Newcastle United football team and is also a shareholder in JJB, runs Sports Direct and may make a move sometime this week.
However, last week JJB stated that it was talking to “a number of parties” to try and orchestrate a sale.
If Sports Direct was to purchase the group, it would probably look to close around half of the stores, putting thousands of jobs at risk. At last count, the company employed the equivalent of around 2,800 full-time employees across its 180 stores.
Reports from the Financial Times suggest that neither Sports Direct or the other main interest JD Sports would want to pick up a significant number of stores. Instead, they would be likely to pick out the best sites, along with Dave Whelan, who founded JJB, who has also expressed an interest in taking on between 30 and 40 stores himself.
JJB put itself up for sale last month although it is not currently in administration.
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