JJB Sports may drop its ‘Serious about Sport’ tagline as part of revival plans because of concerns that it is perceived as intimidating.
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The retailer, which was scheduled to deliver a new business plan to lender Bank of Scotland yesterday, would continue to associate itself strongly with active sport so differentiating itself from rivals such as Sports Direct, but adopt a less elitist positioning.
JJB successfully pulled off a £31.5m fundraising last week but still needs to raise more money as well as win banking approval for a new business plan and conduct a CVA. One of the UK’s largest landlords, Capital Shopping Centres, which has a handful of JJB stores, said on Wednesday that it will oppose the CVA.
CVA documentation was expected to be issued to creditors by Monday, but a delay was possible as Retail Week went to press.
JJB’s recovery plans also include improvements to buying and merchandising to create a better stock profile and introducing exclusive supplier deals. A source said: “Stock profile and replenishment needs to be improved.”