JJB tries to get its (mad) house in order

The fun continues at JJB Sports with lawyers Pannone issuing a statement from former chief executive Chris Ronnie saying he had tendered his resignation after reaching a financial settlement with the JJB board on Tuesday.

But shortly afterwards JJB put out its own statement that confirmed Ronnie had tendered his resignation but that “no such agreement has been reached and accordingly Mr Ronnie’s resignation is not effective”. This follows the earlier suspension of Ronnie following an investigation discovered that his 27.5 per cent stake in JJB, which he held with Icelandic investor Exista, had been transferred to the liquidators of Kaupthing Singer & Friedlander. This had apparently been undetaken without his knowledge.

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