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Retail chains facing OFT & SFO probe

By: Jeff James

Listed Under: Top Story

Published: Thursday, September 10, 2009

The Serious Fraud Office and Office of Fair Trading have launched separate investigations into suspected cartel activity and fraud by JJB Sports and Sports Direct.

The OFT investigation follows an approach made by JJB on January 30, 2009 for immunity in accordance with the OFT’s leniency programme in relation to what the retailer describes as a “a suspected agreement or concerted practice to dampen competition in the sports retail market in the period from June 8, 2007 to March 25, 2009”, the period in which former chief executive, Chris Ronnie, was employed by the company.

The SFO became involved following a referral by the consumer watchdog, and is now investigating the two retail chains for suspected criminal offences under the Fraud Act and Enterprise Act.

If the OFT was to complete its investigation, decide that JJB had infringed UK competition law and issue an infringement decision, the grant of the so-called ‘marker’ in favour of JJB means that it would received full immunity from any financial penalty that would be imposed by the OFT.

The grant of the marker and the availability of immunity is subject to JJB complying with the OFT’s standard immunity conditions, which include continuous and complete cooperation with the OFT, a requirement to refrain from further participation in the suspected cartel and a duty not to act in bad faith. The OFT has confirmed that it is satisfied JJB is complying with these conditions.

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