JJB eyes £65m share issue to stave off debts

first_img Show Comments ▼ Share whatsapp KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeReporter center[Photos] Gretchen Carlson And Her Partner Are Still TogetherReporter centerArticles StoneThese Women Have Inspired A Lot Of Women WorldwideArticles Stoneinvesting.comYou Probably Had No Idea Kris Wrote The Most Iconic Hits Of All Timeinvesting.comAbsolute HistoryA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserAbsolute HistoryBra & Panty Sets | Search AdsBrilliant Panty Sets (look)Bra & Panty Sets | Search Adshttps://twitways.com/Know What Will Happen to Your Body if You Eat 2 Bananas a Dayhttps://twitways.com/Mattress | Search AdsNew 2021 Mattress Prices Might Surprise YouMattress | Search AdsUlcerative Colitis | Search AdsCommon Signs Your Body is Fighting Ulcerative ColitisUlcerative Colitis | Search AdsHepatitis C | Search AdsDon’t Ignore Signs of Hepatitis C (May Alarm Many)Hepatitis C | Search Ads Sunday 13 March 2011 10:31 pmcenter_img JJB eyes £65m share issue to stave off debts DEBT ridden retailer JJB Sports is plotting a further £65m fundraising in an effort to reverse its recent financial woes.The Wigan-based firm will tomorrow announce details of a share offering to raise the cash, which is expected to come from existing investors.It will use the funds to give it working capital as it goes through a tough restructuring process.JJB’s five leading shareholders have agreed to the plan following talks, which comes within three months of a separate £31.5m share offering.Chairman Mike McTighe is spearheading the refinancing alongside his chief executive Keith Jones.He is thought to be considering plans to give directors shares in the company as he looks to turn the business around.JJB, which holds a £25m facility with the Bank of Scotland, has struggled under the pressure of its debts and faltering sales. The retailer needs cash to pay creditors, including landlords and shareholders, to support its second company voluntary arrangement in as many years.JJB suffered a blow last week after rival JD Sports walked away from a possible takeover. whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Tags: NULLlast_img

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