This was partly in response to the interim financial report, and also as a result of Coface removing credit insurance. In October 2008, the value of JJB shares fell to less than 10% of the value, at the time of Dave Whelan's share sale to Chris Ronnie and Exista. In September 2008, JJB released a less than impressive set of interim results, which included a warning from the auditors raising doubts over JJB's future as a going concern. JJB considered converting some of the smaller JJB High Street stores into OSC stores, keeping OSC as a separate division of the JJB group which would share JJB's buying, financing and marketing functions. In December 2007, JJB announced that they had purchased the Original Shoe Company for £5 million. This stake was sold in its entirety to Nike in March 2008. On 19 October 2007, JJB bought a stake of 10.1% in Umbro, in an move to protect its stake in the market for shirts of England Football. On 8 June 2007, Mr Whelan sold his residual 29% stake in the firm for £190 million to Icelandic financial group Exista and Chris Ronnie, a sports retailer who previously worked at Umbro and Sports Direct. Mr Sharpe had been with the company for nineteen years, and was the son in law of the chairman, Dave Whelan.īy 2005, JJB had expanded to stores over 430 throughout the United Kingdom and Ireland. In October 2002, Duncan Sharpe, chief executive of JJB Sports, committed suicide. In July 2002, it had also opened a new branch in Amsterdam. JJB had got to a sales total of £372.97 million (US$636.60 million) in 1999. The acquisition made JJB one of the largest sports retailers in the United Kingdom, focusing on sports clothing rather than sports equipment. In July 1998, JJB bought its largest domestic competitor Sports Division. ĭuring the beginning of the 1990s, the store portfolio grew to stores totalling 120 by 1994, at which point the company was floated on the London Stock Exchange. When Whelan bought the store from Bradburn, he kept the JJB name.
As these initials were all the same, the business was known locally as JJB’s. The original JJB sports store was established by John Jarvis Broughton in the beginning of the 1900s, and later was purchased by John Joseph Bradburn. It was expanded and incorporated in 1971, when ex footballer and supermarket chain operator Dave Whelan acquired a single sports shop in Wigan, and immediately opened a second sports goods outlet in his supermarket in Sutton, St Helens.
The original JJB sportshop was founded in the beginning of the 1900s.
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