JJB Sports chief executive Keith Jones has visited the US to brief big shareholders in preparation for the retailer’s next round of fundraising.

Jones met JJB’s shareholder Harris Associates and the Bill and Melinda Gates Foundation to discuss support for a rights issue vital for its survival. He has also met UK-based shareholder Crystal Amber.

The embattled sportswear group is preparing for what will be its third plea for funds from shareholders.

It secured £100m in October 2009 and a further £31.5m last month.

JJB declined to put an exact figure on what is needed but it will be between £31m and £110m. The retailer has said it could run out of funds by the end of this month.

JJB is expected to detail the latest fundraising plans next week.

A CVA, which JJB also needs to prevent it going into administration, looks likely to be approved.

JJB chairman Mike McTighe said: “I believe we’ll get it through. We’ve tried to listen to landlords and offer them something that acknowledges the hit they’re taking.”

The retailer, which proposes paying 55% of the contracted rent on 43 stores that it plans to close by April 2012 and 46 stores it is reviewing, has offered landlords between £2.5m and £7.5m, based on JJB’s performance, in April 2013.

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