Pinsent to join the JJB board

OLYMPIC gold winning rower Sir Matthew Pinsent has joined the board of JJB, the troubled retailer announced yesterday as it posted a 28 per cent decline in sales.

Pinsent has been appointed as a non-executive director in a bid to breathe new life into the business.

He will pick up an estimated £40,000 a year to advise the brand on sporting trends.

Total group revenue for same store sales for the financial year plunged by 51 per cent after being hit by a lack of stock, according to figures released yesterday.

Meanwhile, chairman Sir David Jones resigned for health reasons.

Wigan-based JJB, which narrowly escaped administration last year, said in a statement: “As previously reported, the lack of new stock has damaged sales.

“This position is steadily improving with stock for the new spring ranges being received over the recent weeks with further deliveries due over the coming months.

“The company is on target for being fully stocked by April 2010.”

Shares in the company closed the day down 4.7 per cent at 20.50p after JJB released its trading statement earlier in the morning.