The retailer wants to raise the money by way of a firm placing and open offer to enable it to implement a new business plan. JJB said on Tuesday that major shareholders Harris Associates, Crystal Amber, Invesco Asset Management and Bill & Melinda Gates Foundation Trust have indicated that they will back the fundraising, subject to a number of conditions.
One of these conditions is that JJB's proposed company voluntary arrangement (CVA), which is an alternative to administration, gets landlord approval at a vote next Tuesday.
Be wary about leverage, ie investments bought on borrowed money.
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