JJB Sports has hired KPMG to advise on the sale of the company, and lined up more than ten potential buyers.
Among those that have received financial information on the ailing sports retailer is Better Capital, which had already expressed an interest in the company before it was put up for sale.
The group is on the block after failing to secure enough funding to drive a turnaround. A sale is likely to be in the form of a pre-pack administration.
It has been a tough period for JJB Sports. US group Dicks Sporting Goods, which only recently invested in the company, was forced to write off its £20m (€25m) investment after JJB's performance since their investment had “materially deteriorated from its expectations”, according to Dicks.
In addition, shares in the company fell by 25 per cent in one day in July after news emerged that the company was burning cash faster than expected.