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    Barclays appoints Grant Thornton to advise on JJB’s future

    Barclays appoints Grant Thornton to advise on JJB's future

    Barclays has appointed Grant Thorton to advise on the future of its customer JJB Sports

    Author Date published December 1, 2008 Categories

    Barclays, said to be
    owed £60m by JJB
    Sports    , has reportedly appointed
    Grant Thornton
    to advise it about the company’s future business plan.

    The
    Press Association     said speculation was mounting about the bank’s concern
    over the company’s financial position amid reports of JJB continued attempt to
    raise cash to pay off its large debts, including a £20m loan from failed
    Icelandic bank Kaupthing.

    The company is believed to have received an offer for its Qube and Original
    Shoe Company lifestyle division from rival JD Sports Fashion.

    It also reportedly in talks with founder David Whelan over a £100m bid for
    its 54 health clubs.

    Further reading:

    Anxious credit insurers in the spotlight for pulling
    cover

    KPMG in crunch talks with JJB bankers

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