JJB Sports, the retailer, is racing to raise cash before a quarterly rent deadline that insolvency experts say could bring a fresh wave of retailing failures.

Most retailing chains will be faced on Wednesday with a rent bill for the next three months. The Boxing Day demand put several out of business and insolvency experts expect further pressure on the sector.

JJB has until Tuesday before a standstill agreement from its banks expires. It is in talks with landlords about disposing of 30 poorly performing stores, but is considering a company voluntary agreement, which would ask landlords to consider lower rent.

The Times