Deloitte has raised ‘going concern’ issues about JJB Sports’ interim
The firm stated in its review of its client’s interim figures that there were
material uncertainties about the company’s ability to continue as a going
These included the availability of its banking facilities given ‘actual and
projected covenant breaches’; its ability to repay its bridging loan; and the
achievability of its forecasts.
JJB said it ‘refutes on advice’ the allegation that it is currently in breach
of the £15m covenant, reported the Daily Telegraph.
JJB Sports’ PR advisers were unavailable at the time of writing.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children