A former group finance director of B&Q and MFI with deep
turnaround and private equity experience has joined JJB Sports to lead the
company voluntary arrangement (CVA) its shareholders approved in March.
Lawrence Coppock started work at JJB Sports in May and will take over as
full-time FD when executive director Peter Williams steps down on 31 May.
Williams has been caretaking finance there since the departure of the previous
FD, David Madeley, in March.
One of his priorities in JJB’s financial restructuring is to see through the
CVA, which, by way of allowing the group to settle rental debts by the month
rather than the quarter for one year, temporarily saves it from the threat of
Coppock joins from privately-owned printing group Wyndeham Press following
the sale of the business in April to investment company Walstead. He led its
restructuring and refinancing following the collapse of major shareholder,
Before Wyndeham, Coppock was regional managing director and interim FD for
the global services division of FTSE-250 engineering business Weir, whose group
FD is profiled in this issue of Financial Director. He has served as a
group FD seven times, six of which were for listed businesses.
Notable appointments include group FD at BAA/McArthurGlen in 2001 while the
airports operator was in the process of offloading its stake in the retail
property joint venture. He was also interim FD at MFI in 2000 before Martin
Clifford-King was appointed, and was group FD at B&Q in 1998.
He has worked on private equity acquisitions, including those of Maplin
Electronics by Montagu and shoe retailer Stead & Simpson by Apax.
Chartered accountant Colin Adams rebuilt the AIM listed company’s finance team and helped turn the business around after a challenging period
Travis Perkins to close 30 branches and could cut as many as 600 jobs, the builders’ merchant said, as it warned on full year profits
Another boardroom shakeup looms at Sports direct as acting chief financial officer Matt Pearson is set to resign after just over a year in the role