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JJB Sports PLC outlines plans for CVA
27 Mar '09
3 min read
Commenting on the Disposal, the proposed CVA and proposed new funding arrangements, Sir David Jones, Executive Chairman, said: "In announcing our series of measures today, we have taken the first step in securing JJB's long term future after months of speculation. We have worked very hard with our advisers and lending banks to propose a robust, solvent restructuring of the Group that we believe is in the best interests of all of our stakeholders.In addition to the continued support of our lending banks, our proposals require the approval of our unsecured creditors and our shareholders. Their support of our CVA proposal will ultimately allow us to focus on realising the full potential of the Company's core sports retail business."
JJB Sports
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