JJB Sports Plc, the Wigan based sports retail giant, has endured a torrid time over the past couple of years, but could the fortunes of the company whose catch line is, ‘serious about sports’ , be about to turn?
JJB have recently issued a trading update , which announced that the like-for-like revenue during the 52 weeks to 24 January 2010 was down 28% on the previous year. The past 12 months was not a run of the mill retailing period for JJB, as they had a major stock shortage due to supplier problems , implemented a Company Voluntary Agreement (CVA), raised around £100m in capital and sold the fitness clubs to its former owner and founder Dave Whelan .
Adding to the investor pain, Sir David Jones has declared that, due to continuing issues with his health, he will be stepping down as its Chairman but will remain as…
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