Troubled sportswear chain JJB Sports has confirmed plans to tap shareholders for an additional £65million

Troubled sportswear chain JJB Sports has confirmed plans to tap shareholders for an additional £65million in a bid to turn its fortunes around.

The company said on Monday that it has entered discussions with its major investors and would provide more details of its business plan on Tuesday.

The fundraising comes two days after JD Sports Fashion announced it had abandoned takeover talks with JJB, claiming its rival did not provide it with extra information it had requested.

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