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JJB Sales Drop – Company Will Not Be Sold

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LONDON, UK (October 19) – Although a press release was issued last week, stating that negotiations with ‘an undisclosed party’ were underway, UK’s sports retailer JJB will not be sold. Analysts expected that a management buy-out, backed by an equity investor was behind the announced talks. According to Tom Knight, JJB chief executive, this was […]

LONDON, UK (October 19) – Although a press release was issued last week, stating that negotiations with ‘an undisclosed party’ were underway, UK’s sports retailer JJB will not be sold. Analysts expected that a management buy-out, backed by an equity investor was behind the announced talks. According to Tom Knight, JJB chief executive, this was not the case. After the announcement was made, it become quickly clear that the possible offer would not be ‘appropriate’. Meanwhile, the groups sales dropped 21.2% to 363 million pounds for the half year period – which translates into operating profit down 25% to 28 million punds. The company also faces a fine related to the fixing of replica football shirts, one of the best selling sports items in the UK. (MH)

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