The miserable run of sportswear retailer JJB Sport continued on Friday amid concerns about its exposure to the troubled Icelandic banking system.

Its shares finished off 12.7 per cent at 36¼p, taking losses since last Friday's profits warning to 65 per cent. Hallco 1480 Limited, a company half owned by Chris Ronnie, chief executive, bought 28 per cent of JJB in 2007. In a research report, Deutsche Bank observed that these shares were registered in the name of Iceland's Kaupthing bank.