Matt Posted February 11, 2009 Share Posted February 11, 2009 Apparently JJB has been in a slide since 2005, but as with a lot of other businesses recently the economic downturn has bitten hard. Whilst being in a reported debt of £60m JJB have been making it clear that they need to sell their Gym division to stay buoyant. Early 2009 figures point to a price of £50m for the division which would go a long way to wiping out a lot of the debt, however analysts claim that "fire-sale" prices are never easy to imagine. Wigan Athletic and the Warriors are both sponsored by JJB naturally, however I would have thought that it would've been good business to spread the sponsorship and get in spearate deals for each of the clubs, perhaps that might still happen.... Not that I'm bothered! Quote Link to comment Share on other sites More sharing options...
opinions4u Posted February 11, 2009 Share Posted February 11, 2009 I think Whelan did rather well to sell out of JJB about 2 years ago. Perhaps he saw ahead to the mess the nation is now in - and got some capital behind himself which probably strengthens the likes of Wigan's two major sporting teams. Quote Link to comment Share on other sites More sharing options...
johnny punkster Posted February 11, 2009 Share Posted February 11, 2009 they've had a permenant "sale" for over 2 years. awful shop. ta ta..the chavs of oldham will be gutted. Quote Link to comment Share on other sites More sharing options...
Stitch_KTF Posted February 11, 2009 Share Posted February 11, 2009 they've had a permenant "sale" for over 2 years. awful shop. ta ta..the chavs of oldham will be gutted. To be fair it's good for what it's meant to be - sports equipment. However if you were fancied a nice gold Lacoste tracksuit you would be best to go elsewhere. I didn't realise Dave Whelan had sold JJB. Looks like the plastics should be alright for a while yet, and Uncle Dave can hang on to his $13M Barbados mansion. Quote Link to comment Share on other sites More sharing options...
opinions4u Posted February 11, 2009 Share Posted February 11, 2009 The always truthful Wiki does suggest that Uncle Dave has one or two 'close to the line' business dealings. Orrell RUFC must love him! Linky Quote Link to comment Share on other sites More sharing options...
oafc0000 Posted February 11, 2009 Share Posted February 11, 2009 Perhaps he saw ahead to the mess the nation is now in Nope, he was just lucky... The only guys who worked for the banks and saw this coming where ignored and sacked... Quote Link to comment Share on other sites More sharing options...
Stitch_KTF Posted February 11, 2009 Share Posted February 11, 2009 Nope, he was just lucky... The only guys who worked for the banks and saw this coming where ignored and sacked... Now that's just not true. My mate 'saw this coming', sold his house the month before they began to devalue, paid off his mortgage and moved in with his girlfriends parents. He now has a small fortune in the bank and is putting himself through uni. His decision/foresight came from being well into conspiracy theories. He told me about it, I wish I'd listened to him. Who's laughing now? Quote Link to comment Share on other sites More sharing options...
Lookers_Carl Posted February 11, 2009 Share Posted February 11, 2009 Unfortunately Mr Mike Ashley has provided the chavs with a ready replacement called SportsWorld Would be interesting to see who will buy the JJB gym on elk mill. I went 2001-2003 when it was pretty nice, went back again not so long ago and lets just say not as nice as it was. Two gym chains I can think of without a presence in Oldham is Fitness First and Virgin Active Quote Link to comment Share on other sites More sharing options...
Lookers_Carl Posted February 11, 2009 Share Posted February 11, 2009 Now that's just not true. My mate 'saw this coming', sold his house the month before they began to devalue, paid off his mortgage and moved in with his girlfriends parents. He now has a small fortune in the bank and is putting himself through uni. His decision/foresight came from being well into conspiracy theories. He told me about it, I wish I'd listened to him. Who's laughing now? I remember saying early 2008 that house prices cannot keep rising at the rate they were doing as it was not sustainable. Even after this recession is over, banks will be a hell of alot stricter with lending and house prices will have to fall in line with that. Quote Link to comment Share on other sites More sharing options...
oafc0000 Posted February 11, 2009 Share Posted February 11, 2009 I remember saying early 2008 that house prices cannot keep rising at the rate they were doing as it was not sustainable. To be fair predicting a house market crash was reasonably easy... Predicting a collapse in the world economy like this we are experiencing now less so.. Very few people saw something this big happening... Quote Link to comment Share on other sites More sharing options...
Lookers_Carl Posted February 11, 2009 Share Posted February 11, 2009 thats very true Quote Link to comment Share on other sites More sharing options...
Stitch_KTF Posted February 11, 2009 Share Posted February 11, 2009 To be fair predicting a house market crash was reasonably easy... Predicting a collapse in the world economy like this we are experiencing now less so.. Very few people saw something this big happening... Point taken, although he was talking of recessions too. And anyway, aren't they closely linked?? At least we've established some did see it coming, which was what prompted me to post in the first place. Quote Link to comment Share on other sites More sharing options...
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