Hints and tips:
...Mr Ronnie owed around £11m to Kaupthing after he purchased a 30 per cent stake in JJB funded by the bank....
...The former chief executive of JJB Sports received three payments totalling just over £1m in 2007 and 2008 allegedly linked to sportswear deals conducted by JJB that were “undeclared” to the company’s board...
...Buzzfeed listed 18 chains that had gone into administration or dallied with it since 2007, including the disappearance of general retailer Woolworths, white goods specialist Comet, bookseller Borders, JJB...
...If Mr Ashley lands the deal, first reported by Sky News, it would emulate the path taken by Wigan Athletic owner Dave Whelan, founder of JJB Sports, who acquired 50 of JJB’s health clubs in 2009....
...During one analyst meeting in 2011, Sports Direct boss Mike Ashley said: “I told you that I was going to smash Chris Ronnie [the former chief executive of JJB Sports] and I did....
...It has increased operating profits from £100m in 2008 to an expected £266m this year, destroying rival JJB Sports along the way. Now the company has set its sights on continental Europe....
...The disagreement over stock is the latest twist in the JJB saga....
...JJB shares closed down 9.6 per cent to 0.235p on Monday....
...There are no prizes for also-rans – just ask shareholders in JJB Sports, the UK retailer that went bust this week after failing to compete effectively with Sports Direct....
...Earlier in 2012, JJB, Clinton Cards, Peacocks and Blacks Leisure failed, although most were revived in a slimmed down form....
...other UK media:* From The FT, - Talks on a Eurozone banking union have run into serious disagreement - Brokers flag RBS share offer for Direct Line - Sports Direct is frontrunner in JJB...
...However Universal will be forced to sell Parlophone, the record label behind Kylie Minogue and the Beatles - Bill Gates is facing a £20m loss from the demise of JJB, if it fails to find a rescue buyer...
...Keith Jones, JJB chief executive, said: “We believe this investment package and strategic alliance with Dick’s will provide a real opportunity to accelerate JJB’s turnround....
...(Wall Street Journal) - JJB Sports has a saviour: US retailer Dick’s Sporting Goods, which is investing £20m in JJB, alongside a £10m investment from existing shareholders, the companies said....
...JJB Sports surged 79.3 per cent this week as its Christmas trading report released on Thursday announced a 5 per cent like-for-like sales increase in the four weeks to Boxing Day....
...JD Sports, the sports fashion retailer, says it is back on the acquisition trail, but will not revisit plans to acquire struggling rival JJB Sports....
...JJB Sports jumped by 56.1 per cent to 16p after the debt-laden retailer said it was in talks with a “potential strategic partner” to raise financing. Churchill Mining dropped 18.4 per cent to 9½p....
...In the notoriously competitive sports retail sector, Sports Direct is winning the race for consumers’ wallets with its discount brands approach – at the expense of bailed-out rival JJB Sports, which is struggling...
...JJB Sports climbed 37.5 per cent to 7.7p after saying Christmas trading had met the board’s expectations, while Games Workshop took on 8.9 per cent to 490p after posting a return to sales growth....
...This has already been the fate of Blacks Leisure, La Senza and JJB Sports, and could be the eventual outcome for structurally troubled listed retailers including HMV, Game Group and Clinton Cards....
...“Usually after retail death there is life, in that new companies will emerge to float and take up the running, but the IPO market is even more dead than the ‘living dead’ like HMV and JJB Sports.”...
...- JJB Sports says sales plunged by 17.7 per cent in H1; if trading does not improve will not meet forecasts — statement. - Sanlam makes £12.2m bid for Merchant Securities — statement....
...“The strong should get even stronger in 2012, and the severely distressed such as HMV, JJB Sports and Blacks Leisure could well go under,” agrees Peter Smedley, retail analyst at Charles Stanley Securities...
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