The Daily Telegraph reported on Friday that Keith Jones is planning to step down as CEO of JJB Sports, the U.K. sporting goods chain.

JJB issued a profit warning earlier this month and has struggled with losses and a heavy debt burden for several years. JJB's new chairman, U.S. retail veteran Robert Corliss, was brought in following a cash injection from U.S. retailer Dick's Sporting Goods and is set to take over officially from former chairman Mike McTighe on Sept. 1.

JJB Sports got a 20 million pounds ($31.40 mm) investment from Dick's Sporting Goods in April and has since been revamping its stores.

JJB Sports didn't respond to the report.