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JJB confirms considering raising capital

JJB sports has confirmed that it is considering a rights issue. The company is also considering “non-core” asset sales or arranging extensions on existing debt.

The company is already in breach of debt covenants, has disposed of assets and has entered into a CVA (company voluntary arrangement) with its creditors.

The facility the company is considering extending (naturally, we do not know what the lender thinks!) is due in September next year. The CVA has provided temporary relief but the company now needs to find a more permanent solution.

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