THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Blacks Leisure sale process continues

Blacks Leisure has announced that it does not expect to receive any offers for the business and warned that it saw no value for shareholders in the company.

CITY & CORPORATE

Blacks Leisure sale process continues

The troubled outdoor clothing retailer put itself up for sale three weeks ago as it struggled with debts of £36 million.

In statement issued today the retailer said a number of parties had submitted offers to acquire the whole or parts of the group.  However, based on the level of indicative offers received, Blacks said it was unlikely that any value would be attributable to the ordinary shares.

Blacks said it was continuing to hold discussions with a number of parties, with a view to concluding the sale process in January 2012. It is also holding constructive discussions with its lender, Bank of Scotland.

The company is now expected to be bought as part of a pre-pack administration deal.

Blacks posted a £16 million loss for the first half of its financial year and warned in November that its annual results would be worse than expected.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing