UK: JD Sports confirms "advanced" Blacks talks
By Petah Marian | 9 January 2012
JD Sports today (9 January) confirmed that it is in "advanced discussions" with struggling outdoor retailer Blacks Leisure about buying its assets.
On Friday, Blacks announced that it will go into administration as part of plans to sell the business. The pre-pack arrangement will allow a buyer to cherry-pick the company's best assets, but leave its costly distribution warehouse and head office, as well as shed unwanted shops from its 300-store estate.
Blacks Leisure has 98 Blacks outlets and 208 Millets outlets. It also owns the Peter Storm and Eurohike brands.
In a statement to the London Stock Exchange, JD Sports said: "JD notes the press speculation in relation to a potential offer for the assets of Blacks Leisure Group and the recent announcement made by Blacks, and confirms that it is in advanced discussions with Blacks in relation to an offer for certain of its assets."
Bidders were thought to include Dragon's Den TV star Peter Jones, JD Sports and Sports Direct, according to Reuters. However, on Friday, Peter Jones denied that he was planning to buy the retailer through his Twitter account.
Companies: JD Sports, Blacks Leisure, Sports Direct
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