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.
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.