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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/02/sports-retailer-in-takeover-talks.jpg"><img class="alignnone size-full" title="Struggling retailer JJB Sports is in takeover talks with high street rival JD Sports Fashion" src="http://londonglossy.com/wp-content/uploads/2011/02/min-sports-retailer-in-takeover-talks.jpg" alt="Struggling retailer JJB Sports is in takeover talks with high street rival JD Sports Fashion"/></a></p>
<p>Struggling retailer JJB Sports has confirmed it was in takeover talks with high street rival JD Sports Fashion.</p>
<p>Reports have suggested that an approach about a deal was made by JD several weeks ago.</p>
<p>In a statement, JJB said: &#8220;Further to the press speculation this evening, JJB Sports plc confirms that it is in initial discussions with JD Sports Fashion plc in relation to a potential offer.</p>
<p>&#8220;The highly preliminary nature of these discussions is such that there can be no certainty that any offer will be made or as to the terms of any offer.&#8221;</p>
<p>A merger of the two companies would create one of the biggest high street chains in Britain.</p>
<p>But Wigan-based retailer JJB, which operates nearly 250 stores and employs 6,300 staff, was recently thrown into a battle for survival after it revealed that a major promotional drive had failed to deliver results.</p>
<p>The company reported that like-for-like sales decreased by 15.7% between November 8 and December 19.</p>
<p>It announced in December it was to turn to investors, including the Bill &#038; Melinda Gates Foundation Trust, to raise more than £30 million in a rights issue.</p>
<p>The group raised £100 million from investors just over a year ago.</p>
<p>Last week its troubles increased when it was fined £455,000 by the Financial Services Authority for failing to disclose it had bought two smaller rivals for £16 million more than it told investors.</p>
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