JJB looks at cut-price share offer (From Bradford Telegraph and Argus)

JJB looks at cut-price share offer

9:14am Tuesday 7th July 2009 in

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Troubled retailer JJB Sports is considering raising extra funds through selling new shares.

The Wigan-based retailer, headed by Ilkley-based Sir David Jones, said it was reviewing a range of possible options to generate capital.

These include a discounted share offer.

In May JJB reported an annual loss and slump in sales, but said it had agreed a company voluntary arrangement to help it to survive.

In a statement, JJB said: “The board confirms that, as highlighted in its recently published annual report and accounts for 2009, it is reviewing a range of possible options to provide additional capital.

“These include the disposal of further non-core assets, an extension in the maturity date of the company’s working capital facility beyond September 2010 and a possible equity capital raising by way of a placing and open offer.”