JJB Sports is surely praying for the final whistle

Invest £30m now for the chance to throw even more cash into a company that squandered the £100m it raised in its last cash-call. Unlikely as it sounds, that was the pitch from JJB Sports. Page 19 of the fundraising document states that even the latest £30m top-up won't prevent a funding shortfall at the end of April. On the current business plan, a cool £110m could be needed. New chief executive Keith Jones hopes to produce a new plan soon – lots of store closures are expected – but the cost of restructuring is rarely zero. Shareholders could still be asked for a chunky sum, even if it isn't the full £110m. Maybe rival JD Sports will ride to the rescue with a bid, thereby putting an end to JJB's pain. If not, JJB will be asking investors to back hope over experience – again.