Blacks Leisure Share Discussion Threads

[simonhatter37] 11/1/2012 16:43

Well I did try and warn you all.

Thats the end folks.

Wonder how much HYPER AL has lost ?

[notanewmember2] 09/1/2012 21:35

This recession is far deeper than anything in recent history. Lehmans, Bear Sterns, and numerous prestigious names that have been around for a century are being hit.

[dugganjoe] 09/1/2012 19:45

Hyper Al - 21 Apr'11 - 12:20 View 'Hyper Al' profile



I believe Blacks Leisure Group has a good future, from what is certainly a low point in it's history. I seem to remember it having problems in the early 1980's and it made a strong recovery.





BURP

[diku] 09/1/2012 19:41

No wonder Banks are not lending...instead hoarding cash from BOE as they know there are more companies that might go belly up & not get their money back....

[boonboon] 09/1/2012 18:31

no just make sure the business model is working and sell out before any maor trouble.It's not like there weren't any warnings

[pwhite73] 09/1/2012 17:42

Because they lend against the company's assets which includes cash, property, tangibles and intangibles. They've taken a hit of £16 million. The hit taken by shareholders was the value of the company at suspension.

So all that you suggested would not come about has come about within four days. Suspension, administration and delisting. However my thoughts go out to all ADVFN investors.

[jpjp100] 09/1/2012 17:15

RIP BSLA

Sorry to shareholders, who end up with diddly squat.

[isis] 09/1/2012 16:54

Checkmate.

Or not as they case maybe.

[notanewmember2] 09/1/2012 11:16

I think he'll stick to mining.

[typo56] 09/1/2012 10:54

Hyper Al, will you ever give this one up?

[sir rational] 09/1/2012 09:51

Just making the point that JD might not be the frontrunner. They prbably would look to take over the renegotiated leases at a few choice locations (nothing much here for Blacks) plus buy brands such as Peter Storm. Typically what JD do is buy mid-market to premium brands then flog them cheap - they already did this with Fenchurch, Canterbury, Peter Werth and through licence Fila etc.

Can't see there being enough to pay back the bank let alone something for shareholders.

[sir rational] 09/1/2012 08:12

Other party or parties could also be in advanced talks for certain assets...

[jpjp100] 09/1/2012 07:46

JD confirms itself as (a) frontrunner...

[isis] 07/1/2012 12:45

Who needs a dragon when you have JD?

KPMG will put Blacks through a pre-packaged administration on Monday
Ben Gurr for The Times
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What's this

KPMG will put Blacks through a pre-packaged administration on Monday Ben Gurr for The Times
Helen Power M&A Correspondent
January 7 2012 12:01AM
Blacks Leisure saved by high street rival
JD Sports Fashion is close to rescuing its struggling high street rival Blacks Leisure, in a £20 million deal that will safeguard thousands of retail jobs.
Blacks' board approved JD Sports as preferred bidder yesterday afternoon after a protracted meeting with its advisers, KPMG, and lender, Lloyds Banking Group.
The deal will see JD Sports, whose shares rose 11.4 per cent to 660p as news of the acquisition leaked out, take on nearly all of Blacks' 300 British stores.
The takeover will save most of the company's 3,600 staff, although its head office and distribution centre will almost certainly still be closed.
KPMG will put Blacks, which also trades as Millets, through a pre-packaged administration on Monday after hammering out the final details of the deal with JD Sports, which lodged the highest bid and offered to save the most jobs. But Lloyds, which is owed £40 million by Blacks, will get less than half its money back, with nothing left over for other creditors. KPMG told Blacks' shareholders yesterday that they will get nothing.
The underbidder, the Dragons' Den star Peter Jones, announced his decision to walk away on Twitter yesterday, saying : "To quell all rumours I'm not buying Blacks Leisure."
Fellow Dragon Duncan Bannatyne tweeted back: "What do you mean you are not buying Blacks Leisure? I was going to invest with you so you could show me how to make real money!"
Sports Direct, the retail giant founded by the Newcastle United owner Mike Ashley, also lodged an offer, but was well off the pace of the auction. JD Sports was attracted by Blacks' own brands Peter Storm and Eurohike, but was also keen to prevent the chain falling into the hands of Mr Ashley, who tried and failed to buy it in 2010.
JD Sports' majority owner, the Pentland Group, also owns Berghaus, a key supplier to Blacks.
The sale of Blacks will be formally announced on Monday when another high street name, La Senza, could be put into administration.
KPMG, which is expected to be appointed as the administrator, was locked in talks with potential buyers for the underwear chain yesterday.
As there are no buyers for the entire 250 store portfolio, bidders have been allowed to cherry-pick the most profitable stores. This will lead to significant redundancies among the chain's 2,500 staff as the worst-performing shops are shut down. Bidders include the German lingerie chain Triumph International and Limited Brands, the company behind Victoria's Secret, which already owns the La Senza brand in North America.
HMV will also update the market on its Christmas sales. HMV is expected to say like-for-like sales are down on last year when the snow kept shoppers off the high street before Christmas. However, it is believed that sales were good enough to persuade its lenders, led by state-backed Royal Bank of Scotland, to continue to support the business.
It is believed that lenders will allow HMV up to three months to sell its music division HMV Live in order to pay down its debt.