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JJB calls in big guns for survival fight

4 Dec 2008


Troubled leisure retailer JJB Sports brought in some heavy-hitting City advisers today as it sought to reassure investors that it can survive.

It has hired Lazard as joint financial adviser, aiding Panmure Gordon, in a search for buyers for parts - or perhaps all - of the business.

The shares are down from around 140p a year ago. Today they lost ¾p to 12¼p.

JJB said today that talks over a sale of its fitness clubs and other "non-core" assets such as The Original Shoe Company continue. It insists that its lenders - Barclays, HBOS and Kaupthing - "remain supportive".

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