The future of UK retailer JJB Sports is in question once again after Jon Moulton's Better Capital approached its lenders with a view to buying its debt.
A report by Sky News indicates that Moulton has approached JJB's board and principal lender, Lloyds, as the cash-strapped sports chain continues to flounder.
If Better Capital wins control of the group's debts it will likely force a restructure and take an equity stake, a tactic currently being eyed up by 47 per cent shareholder Invesco.
The development follows a £30m lifeline granted to JJB in April, when US rival Dick’s Sporting Goods took a small stake in exchange for £20m and existing shareholders put up £10m, buying the company time as it loses cash.
JJB has around 180 stores and employs more than 4,000 staff.