Sports retailer
JJB Sports has received a takeover offer for its fitness clubs division. The £100m offer has come from the founder of the company, Dave Whelan, who is now the owner of Wigan Athletic Football Club.
Whelan sold his 29 per cent stake to Chris Ronnie last year, who is now chief executive.
JJB has brought in Lazard, the investment bank, to negotiate a deal for the sale of the 50 health clubs.
The sports retailer is struggling to repay a £20m bridging loan to Icelandic bank Kaupthing by the close of the year.
JJB is also attempting to sell Qube and OSC, its two small fashion businesses, to JD Sports Fashion, its smaller rival, for between £10m-£20m.
If a deal is not made between JJB and its former owner then the health club business will go up for auction, it has been revealed.
The fitness club arm runs from over 50 sites and reported 217,700 members as at the end of July, an increase of almost 12,000 on January.
