JJB Sports has revealed that it is in discussions about additional financing with its bank and a “potential strategic investor.” The disclosure was made after the retailer’s share price surged this morning.

Sportswear giant Sports Direct has declared that it has not been involved in any discussions with JJB Sports.

JJB has held discussions with its lending bank and a number of potential strategic partners and investors over recent weeks to raise additional capital. IT remains in talks with one of the potential investors.

It said: “Constructive discussions continue with the company’s lending bank and one of the potential strategic partners and have been widened to include other key stakeholders.”

It’s share price soared nearly 50% this morning. JJB was the biggest riser today on AIM.