JJB Sports Considering Disposals, Fundraising To Raise Capital
July 06 2009 - 2:54AM
Dow Jones News
U.K. sportswear retailer JJB Sports PLC (JJB.LN) Monday said it
is reviewing a range of options to provide additional capital,
including disposing of non-core assets and possible
fundraising.
The firm said it is also considering extending the maturity date
of its working capital facility beyond September 2010.
It said a further statement will be made as and when
appropriate.
JJB Sports added that the lease assignment process of its
disposed fitness clubs business is ahead of plan, with 41 of the 53
leases assigned to Dave Whelan Sports Ltd.
The firm said around GBP17.6 million of the total GBP33.9
million deferred consideration has been released from the escrow
account and it anticipates repaying the Barclays PLC (BARC.LN) term
loan ahead of its existing maturity date of Aug. 31.
Company Web site: www.jjbsports.com
-By Hannah Benjamin, Dow Jones Newswires; 44-20-7842-9298;
hannah.benjamin@dowjones.com