Struggling sportswear chain JJB Sports has confirmed that its agreement with its banks to defer loan payments has cost £8.3m.

In a statement JJB Sports said: “In consideration, the company agreed to a margin uplift for both the Barclays and HBOS facilities to bring them in line with the terms of the Kaupthing facility and to pay fees of approximately£8.3m to the lenders, with payment expected in February and April 2009.”

It added: “Barclays, HBOS and Kaupthing remain supportive of the company under the leadership of the new executive chairman, Sir David Jones.”

In December JJB was given some breathing space by the banks which deferred its repayment of a£20m bridging loan from Kaupthing.

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