Fears for the future of JJB Sports were growing today as the leisure retailer offloaded another four stores to fierce rival Sports World, owned by Newcastle United owner Mike Ashley.

JJB sank £10 million into the red two months ago, causing auditors Deloitte to question whether it could survive as a going concern.

Over the weekend it was reported that Barclays, to which the group owes £60 million, has called in a restructuring firm to advise on how the bank can get its money back.

Today JJB gave four leases at stores in Cardiff Bay, Salisbury, Worthing and York's Davygate to Sports World in return for a much-needed £3.4 million.

JJB said it will use the cash to reduce borrowings. Stockbroker Altium Securities says the move "should ease some of the financial pressure" on the company.

The move comes just months after 20 stores switched to SportsDirect, which suggests the firm is desperate to shrink its business. JJB also owes £20 million to Icelandic bank Kaupthing - a debt due in two weeks.

Rival JD Sports is considering a takeover bid and has just paid £8 million for a 10% stake. But Ashley could still derail any talks.

The group's shares today fell another 4½p to 22½p.

JJB is trying to sell its gym business to founder Dave Whelan, who sold out earlier this year. Whelan is said to have offered £70 million, but the talks were inconclusive.

Whelan may want to see how many new members join in January - normally the best month for fitness clubs - before he goes ahead.

JJB is hoping for a strong Christmas, but could be caught in a brutal price war. SportsWorld has been slashing prices on football shirts.