BusinessCorporate FinanceDeloitte advises sports group in £55m MBO

Deloitte advises sports group in £55m MBO

TJ Hughes is to split from high-street retailer JJB Sports in a £55.8m management buy-out brokered by Deloitte.

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Deloitte & Touche advised a buy-out team led by George Foster, the current chief executive of TJ Hughes.

JJB had received criticism for its foray into discount retailing which began with its £42m cash purchase of TJ Hughes in March last year.

Foster led an unsuccessful bid for TJ Hughes early last year, offering £36m. He has been chief executive of the discount retailer since 1997.

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