Woodford-backed JJB Sports set to call in administrators - reports

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High street retailer JJB Sports is set to announce it is calling in administrators, according to a report by Sky News.

The board of JJB, which put itself up for sale last month, may say as early as tomorrow morning it is lining up KPMG to oversee the process, according to Sky. Invesco Perpetual’s head of equities Neil Woodford has been a longtime backer of JJB, and in August this year the asset manager owned almost half of the business through holdings in Woodford's income funds and other portfolios. According to reports in August, Invesco Perpetual was tabling a plan to take control of the troubled firm, proposing to buy JJB's outstanding debt from Lloyds Banking Group in a bid to increase its contro...

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