JJB shares up 30% after gym sell-off

Shares in ailing British sportswear chain JJB Sports jumped today as the firm mapped out a new direction for the business after staving off collapse with the £83.5m (€89.9m) sale of its health clubs.

Wigan-based JJB, which sold the gyms to founder Dave Whelan yesterday, will relaunch its retail chain with a new range of sports equipment and clothing under the “Serious about Sport” banner.