JJB Sports fined for failure to disclose deal costs

Struggling retailer JJB Sports was today fined for failing to disclose it bought two smaller rivals for £16m (€18.5m) more than it told investors.

Wed, 26 Jan, 2011 - 11:38

Struggling retailer JJB Sports was today fined for failing to disclose it bought two smaller rivals for £16m (€18.5m) more than it told investors.

JJB acquired Original Shoe Company in December 2007 for £5m (€5.8m) in cash but did not reveal it paid an additional £10m (€11.6m) for the stock in the stores.

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CourtsBusinessHeathrowPerson: Alexander JusthamPerson: Chris RonnieOrganisation: JJB SportsOrganisation: JJBOrganisation: Original Shoe CompanyOrganisation: QubeOrganisation: Financial Services AuthorityOrganisation: FSA
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