TISO Group has narrowed its losses in the financial year when JD Sports acquired a majority stake in the outdoor equipment and clothing retailer.
Accounts filed at Companies House show Tiso Group's turnover dipped from £23.9 million to £22.6m in the 12 months to February 1 this year. Mild winter weather was blamed for the decline in turnover.
However, in spite of that, pre-tax losses came in at £1.9m, lower than the £2.3m recorded in the prior year.
The accounts state JD Sports advanced a loan of more than £5.3m to Tiso Group in the most recent financial year and it has since provided a further £2.5m.
Writing in the accounts Chris Tiso said the investment by JD, which gave it a 60 per cent stake in Tiso Group, had been "a critical step in the turnaround of the business giving it substantially stronger financial resources from which to develop".
Mr Tiso indicated he expects there to be a "significant" reduction in losses during the current trading year.
Tiso Group also owns the Alpine Bikes and George Fisher brands as well as Blues ski shop.
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