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JJB considers management buyout
JJB Sports, the UK's biggest sports retailer and operator of nine health clubs, has said it was considering a management buyout, just days after the suicide of its chief executive, Duncan Sharpe.
Finance director, David Greenwood, said a management buyout was one of many options being considered after reporting a 16 per cent fall in half year profits, but that no active discussions were taking place.
The company reported a strong performance from its combined superstore and health club concept, which incorporates a ground floor health club with a pool, gym, aerobics studio and bar, with a superstore on the first floor. The company plan to open three more of these sites this year and seven more in 2003. Details: +44 (0)1942 221400