Bailiffs at JJB in rent row

Sports kit chain JJB is having a brush with the bailiffs.

There are fresh fears for the future of the firm after it emerged that bailiffs have visited at least a dozen stores to demand payment of rent.

The retailer is said to owe around £500,000 for shops that have ceased trading but on which it still has liability for the lease.

Landlords are seeking immediate payment of the rent and are said to be concerned about whether JJB has the cash on hand.

A company spokesman said: "We've paid our rent in full and in a timely manner with all our operational stores and we are in negotiations with a handful of stores where we have ceased trading."

JJB revealed a £10 million loss for the last year and admitted it had a dispute with one of its banks.

The shares have fallen 95% in the past year. Chief executive Chris Ronnie and his Icelandic backers splashed out £190 million for a 29% stake 15 months ago at 275p a share.

Today they stand at 213/4p, valuing the once sprawling business at around £50 million.

Rival JD Sports saw profits in the past six months rise 54% to £12 million. Sales were up 19% to nearly £300 million.