JJB Sports’ Largest Shareholder Offers to Invest More, FT Says

JJB Sports Plc, an unprofitable U.K. sporting-goods retailer, may receive additional funding from its largest shareholder, U.S. fund Harris Associates LP, as it risks breaching covenants on bank loans, the Financial Times reported.

“We think that a management strategy is in place, there are the right people,” Harris Associates Chief Investment Officer David Herro said, according to the FT. “All they need is a little bit of time and room and if they need more money so be it.”

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