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Business News

Four expected to bid for Blacks


Four interested buyers are expected to table final bids for struggling outdoor clothing retailer Blacks Leisure within the next two days.

The potential buyers - who are understood to include Newcastle United owner Mike Ashley's Sports Direct - are reportedly planning to bid for the majority of the business, which includes Millets and brands such as Peter Storm and Eurohike.

The outdoor clothing group, which owns 98 Blacks outlets and 208 Millets stores, is expected to be sold under a pre-pack administration deal after it said it did not expect an offer for the group's shares, only for its trade, assets and brands.

The loss-making group, which employs 3,600 staff in outlets and at its head office and distribution centre in Northamptonshire, put itself up for sale after failing to secure extra funding to turn around the business.