your money: Gym sale pumps up ailing JJB.
BOSSES of JJB Sports have sold its gym business to the group's founder Dave Whelan for around pounds 80million.
The deal gives the struggling group a sporting chance of survival.
JJB Sports has been desperate for cash to repay a pounds 60m bank debt and its quarterly rent bill.
It was feared that without a sale the group could be tipped into administration, threatening the jobs of its 12,000 workers.
Whelan, who owns Wigan Athletic Football Club, said he would rename the 52 gyms DW Sports Fitness.
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|Publication:||The Mirror (London, England)|
|Date:||Mar 26, 2009|
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