JJB unveils plans for £65m cash call
Ailing retailer JJB Sports yesterday launched a fresh £65 million fundraising, which it hopes will draw a line under its recent financial turmoil.
It has the support of its four biggest shareholders, including the Bill and Melinda Gates Foundation, for the cash call, which will allow it to press on with the next stage of its restructuring. The proposed placing requires the backing of a shareholder meeting this month.