Sports Direct close to deal for 60 JJB shops, saving 1,500 jobs The company had net debt of £36m, meaning creditors including Lloyds Banking Group - the main lender - and Adidas could also be left short-changed. Sport Direct's attempt to buy JJB sites has been threatened by a row with Adidas over what the sportswear company should be paid for JJB's stock, and the threat of an investigation by the Office of Fair Trading. It is understood that Sport Direct, which has 290 stores, will buy 20 JJB shops initially and hold 40 separately until the purchase is approved by the OFT. The rise of Sports Direct has played a key role in the demise of JJB. Mr Ashley's aggressive price-cutting has taken customers from JJB, which was valued at more than £500m two years ago and more than £1bn 10 years ago. JJB was formed in 1971 by former footballer Dave Whelan. However, on Monday, trading in the company's shares was suspended after it said it would appoint administrators. All parties declined to comment.