JJB formally concludes CVA

JJB Sports has formally concluded the company voluntary arrangement (CVA) that saved the sports retailer from going into administration.The group said all claims have been dealt with and the supervisors of the CVA have served notices terminating the arrangements with effect from 16 June 2010."We are delighted that the group has successfully concluded the company voluntary arrangements that were put in place last year with the overwhelming support of creditors and shareholders as part of its restructuring. Our focus remains firmly on continuing the turnaround of the business," said chairman John Clare.JJB entered into a CVA with creditors and shareholders in May 2009 to avoid collapse.