The scale of the turnaround facing JJB Sports, the troubled sportswear retailer, was laid bare yesterday after it posted widening half-year losses and "rebudgeted" for lower sales.

Furniture chain Lombok followed the UK arm of Habitat into administration today in a move resulting in the closure of nine stores.

The sportswear rivals JJB Sports and Sports Direct were given a lift yesterday after the Office of Fair Trading (OFT) decided to close its long-running probe into alleged price fixing.

Blacks Leisure, the embattled outdoor retail specialist, has hired an interim chairman to help turn around its fortunes ahead of a refinancing.

Some 442 jobs were saved today after administrators of department store chain TJ Hughes announced an agreement to sell four stores to a housewares company.

JJB Sports could face refreshed interest from sports and fashion rival JD Sports.

Hundreds of high street jobs were lost or put at risk today as the tally of retail failures mounted and more firms signalled plans to shut stores.

The chairman of JJB Sports has warned it could take up to five years to turn around the beleaguered sports equipment retailer as it posted full-year losses of £181m.

Struggling JJB Sports is to tap investors for £65m in an attempt to stabilise its precarious financial position.

JJB Sports, the troubled sportswear retailer, lived to fight another day yesterday after creditors approved an insolvency procedure to safeguard its immediate future by shedding up to 89 stores and slashing its rent bill.

JJB Sports received a boost over the weekend when one of the troubled sportswear retailer's landlords said it would vote in favour of its controversial insolvency procedure tomorrow.

Another potential lifeline for the beleaguered JJB Sports disappeared yesterday when its rival high-street retailer, JD Sports Fashion, announced it was no longer interested in making a bid for the company.