JJB Sports Plc (JJB)’s biggest landlord, Hammerson Plc (HMSO), is supporting the retailer’s proposed company voluntary arrangement designed to keep it afloat, the Sunday Times said, citing an interview with a Hammerson executive.
JJB is seeking to close as many as 89 stores and halve rents to stay solvent, the newspaper said. Lawrence Hutchings, Hammerson’s managing director for retail, said the company was “comfortable” with JJB’s plans, according to the Times.
To contact the reporter on this story: David Altaner in London at firstname.lastname@example.org
To contact the editor responsible for this story: Colin Keatinge in London at Ckeatinge@bloomberg.net