No charges for JJB and Sports Direct

THE Serious Fraud Office (SFO) has decided not to bring any charges against the retailers JJB Sports and Sports Direct following an investigation into an alleged cartel.

But it is sill investigating individuals in relation to the alleged case of anti-competitive practices in the sports retail market.

Last September the Office of Fair Trading and the SFO said they were looking into the conduct of the two companies between 2007 and 2009.

Sports Direct is controlled by billionaire founder Mike Ashley, a friend and former employer of Chris Ronnie who led Wigan-based JJB from August 2007 to March 2009.

During his reign at JJB he sold a number of stores to Sports Direct and in December 2007 bought the loss-making Original Shoe Company from its rival for £5m in cash.

It also emerged that JJB had been buying large quantities of stock from Sports Direct, a practice that has since been ended by the new management team.

Today JJB said the company will continue to co-operate fully with the SFO’s investigation.