The fund-raising comes on top of the £31.5m that the company raised earlier this year. Last month JJB also underwent a company voluntary arrangement (CVA), which is an alternative to administration under which a company's creditors are asked to accept reduced financial returns.
The retailer said that the new fund-raising will be supported by its largest shareholders Harris Associates, Crystal Amber, Invesco Asset Management and Bill & Melinda Gates Foundation Trust. The placing will be fully underwritten by Numis.
Mike McTighe, JJB's recently installed chairman, said: "Together with the implementation of the CVA and continued availability of our banking facilities with Bank of Scotland, this fundraising will mark the end of our financial restructuring process.
he retailer said that the new fund-raising will be supported by its largest shareholders Harris Associates, Crystal Amber, Invesco Asset Management and Bill & Melinda Gates Foundation Trust.
ReplyDelete