JJB set to unveil £30m cash-call

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The Independent Online

JJB Sports, the beleaguered sports retailer, is poised to announce a £30m fund-raising and the departure of its chairman, to safeguard its future.

It is thought that big shareholders, including Harris Associates and the foundation of Bill Gates, are backing the call.

John Clare, the chairman, will be replaced by Mike McTighe, formerly of Cable & Wireless.