JJB has appointed former Next chairman David Jones as its new deputy chairman, to focus on the retail operations.
Group property director Barry Dunn is to stand down from the business with immediate effect.
The retailer confirmed it had received a preliminary approach for its lifestyle division, which includes its Qube and Original Shoe Company chains. It said a further announcement will be made when appropriate.
On Tuesday, JJB said it was looking to sell its non-core assets. Speculation has focused on rival JD Sports Fashion as the potential buyer of Qube and Original Shoe Company.
JJB said that while, “in common with other companies operating in the retail sector, JJB has experienced some withdrawal of credit insurance cover” it “remains confident of its trading relationship with its key suppliers”.
Its£20 million bridging facility from Kaupthing is now fully drawn down, according to the retailer.
JJB said: “Constructive discussions are ongoing with JJB’s other debt providers, HBOS and Barclays, who remain supportive and JJB has appointed KPMG to advise on these discussions.
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