Much maligned sporting goods retailer JJB Sports Plc may ask investors for as much as £50 million ($78.1 million) in additional funding after the company warned it would miss forecasts and possibly breach the terms of a previous loan, the Sunday Times said.

 

The Wigan, England-based company will reportedly start developing a three-year plan to steady the company, the U.K. newspaper reported.

JJB said on Dec. 24 it plans to raise at least £31.5 million in a share sale to help it survive after a sales recovery was halted by Britain's snowy weather.