SPORTSWEAR retailer JJB warned its recovery could take up to five years – as it unveiled more hefty losses in a year when it came close to collapse.

The group, which has more than 200 stores in the UK and Ireland, has begun to overhaul the business after securing landlords’ backing for a rescue deal.

JJB revealed plans to refit 150 stores this year, but said its restructuring would not be “easy or quick” and could take three to five years.

The warning came as JJB reported a 9% rise in adjusted operating losses to £73.9m for the year to January 30. Pre-tax losses more than doubled to £181.4m after one-off costs of £108m.

JJB, which has about 5,200 staff, secured its survival with the help of £96.5m in funds from major shareholders.