Content about JJB Sports

September 27, 2012

A report by Reuters said that British sports retailer Sports Direct will buy 60 stores from struggling competitor JJB Sports.

London -- A Thursday report by Reuters said that British sports retailer Sports Direct will buy 60 stores from struggling competitor JJB Sports.

Citing an unnamed source, Reuters reported that JJB said it is close to appointing KPMG as administrators to sell its assets and brands after failing to receive an offer for the entire company.

JJB operates 180 stores. Sports Direct is majority-owned by Mike Ashley, owner of the Newcastle United soccer club. He will pay about $48 million for the 60 stores.

 

April 5, 2012

Dick's Sporting Goods has agreed to make a 20 million pound investment ($31.75 million) in U.K. sports retailer JJB Sports plc, which operates over 180 stores in the United Kingdom and Ireland.

Pittsburgh -- Dick's Sporting Goods has agreed to make a 20 million pound investment ($31.75 million) in U.K. sports retailer JJB Sports plc, which operates over 180 stores in the United Kingdom and Ireland.

Dick's will purchase 18.75 million pounds ($29.76 million) in junior secured convertible notes and 1.25 million pounds ($1.98 million) in ordinary shares of JJB Sports. The transaction is subject to approval of the British company's shareholders.