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Sports Direct mulls offer for Blacks

Blacks, the struggling outdoor clothing retailer which put itself up for sale last week, has confirmed that Sports Direct has made an approach about a potential takeover.

GENERAL MERCHANDISE

Sports Direct mulls offer for Blacks

Blacks, the struggling outdoor clothing retailer which put itself up for sale last week, has confirmed that Sports Direct has made an approach about a potential takeover.

Sports Direct, owned by Mike Ashley, already has a 22% stake in the business. In a statement issued yesterday Blacks said: "The board confirms that it has received an expression of interest from Sports Direct, amongst a number of others, which may or may not lead to an offer being made for the company."

Other retailers thought to be considering a bid for the business include Go Outdoors, Mountain Warehouse and Cotswold Outdoor.

Blacks, which operates 360 Blacks Outdoor and  Millets stores stores across the UK, has debts of £36 million and  reported a £16 million loss for the six months to end August.

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