Ashley closes in on Black Leisure
Wednesday 04 January 2012
The sportswear giant Sports Direct is among four trader buyers piecing together final-round bids for Blacks Leisure, the embattled outdoor retail specialist.
Ahead of tomorrow's deadline, Mike Ashley-controlled Sports Direct is gunning for the entire business of Blacks Leisure, which has debts of £36m and operates 98 Blacks and 208 Millets stores.
While a sale to a trade player is likely to save many of its 3,500 jobs, Blacks is expected to be rescued through a pre-packaged administration that will see its debts wiped out and its worst-performing stores closed. The new owner is also likely to scale back Blacks Leisure's head office and warehouse in Northampton. Sports Direct owns 22.5 per cent of Blacks Leisure. The identity of the other three trade purchasers is unclear.
- 1 Home Office says Nigerian asylum-seeker can’t be a lesbian as she’s got children
- 2 What happens to your body when you give up sugar?
- 3 Drugs Live cannabis trial: Hash is less harmful than any other drug, expert claims
- 4 Turkish Airlines flight TK 726 crash-lands on Nepal runway amid dense fog
- 5 Apple and Google users being spied on for a decade because of 'Freak' security flaw
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is killed near the Kremlin
iJobs Money & Business
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
Voluntary post, reasonable expenses reimbursed: Reach Volunteering: Would you ...
£36,000 - £40,000: Christine McCleave: Are you looking for a new opportunity a...
£15000 - £18000 per annum: Recruitment Genius: This is a great opportunity for...