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JD Sports rumoured takeover bid for JJB

JD Sports interest sees shares jump for rival JJB

JD Sports

JD Sports got the lowest score in our satisfaction survey

Ailing sportswear retailer JJB has seen its shares jump by 8% after reports of potential takeover bid interest from key competitor JD Sports.

Reports in the Times state that, at a meeting between the senior management teams of both companies, JD Sports said it was considering all options when asked if it would make a bid for JJB.

Both JD Sports and JJB were particularly poor performers in the most recent Which? high street shops survey covering 77 retailers. JD Sports took the dubious accolade of being rated the worst for overall satisfaction by Which? members, while JJB fared only slightly better.

JJB under pressure

JJB’s financial pressure has come because it needs to raise cash to pay a £20m loan from collapsed Icelandic bank Kaupthing.

JD Sports bought a 10% stake in JJB, worth £8.1m, earlier this week. Another rival sportswear chain, Sportsworld, already owns a 22% interest in the firm.

If JD Sports was to take over JJB, the combined sportswear chain would have more than 800 stores, subject to approval from competition authorities.

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