JJB Sports’ future in doubt as funding falls through

Fears over the future of JJB Sports intensified yesterday after the retailer said it had failed to secure the funds needed to overhaul its stores.

The British sports goods and clothes retailer announced that it has put itself up for sale but warned that shareholders, who include the Bill and Melinda Gates Foundation, may see their stakes wiped out in any rescue deal.

Wigan-based JJB, which has 180 stores, four in Ireland, and employs 4,000 people, has been involved in a long-running survival battle after a slump in sales and a string of profit warnings.