Blacks Leisure Share Discussion Threads

[typo56] 23/12/2011 08:16

strutt12 - yes, but it's spelt out that they don't want to acquire them through BSLA shares, and acquire the associated liabilities

[simonhatter37] 23/12/2011 08:15

Administration close now. Beleive me shareholders will not get a carrot when this happens.

[strutt12] 23/12/2011 08:10

"Following that announcement, a number of parties have submitted indicative offers to acquire the whole or substantially all of the trade, assets and brands of the Group."

[sweepie2] 23/12/2011 08:08

No hope all is lost offical, no value attached another gamble failed

[hyper al] 23/12/2011 07:48

Precisely, there is hope, even if it is very small.

[sir rational] 23/12/2011 07:45

I'm out of the UK but would have been good to go look for bargains, pls tell if stuff gets marked down to say -75% as I need a couple of things and could send my bro

[still waiting] 23/12/2011 07:43

looks like a prepack to save the most jobs...

pi's wiped out on this one I'm afraid...

[targatarga] 23/12/2011 07:36

Typo56 - berghaus jackets reduced to £5 in my local branch [sic].

[typo56] 23/12/2011 07:25

As Sir Rational pointed out, it allows for an orderly unwinding of shorts. That should provide holders with a bit better than waiting for zero.

I fully expect there to be ridiculous rumours between now and suspension.

[sir rational] 23/12/2011 07:22

Administrators not appointed yet ie there is a 'forlorn hope' that somebody could still give a value of (say) £1 to the company and launch an offer.

[hyper al] 23/12/2011 07:10

So why is trading in the shares not suspended?

[targatarga] 23/12/2011 07:08

could be some cracking deals instore today.... anyone fancy a hike.... imho

[sir rational] 23/12/2011 07:08

No - that's official: the shares are worthless (except to shorters who need to close).

Not allowed to give advice but any shareholder needs to liquidate their position ASAP as something is better than nothing.

[typo56] 23/12/2011 07:04

"the Board notes that it does not have and does not now expect to receive an offer for the shares of Blacks Leisure. Accordingly the Takeover Panel has confirmed that the Company is now out of an offer period.

Blacks Leisure continues to hold discussions with a number of selected parties with a view to concluding the sale process in January 2012. Based on the level of indicative offers received, it is most unlikely that any value will be attributable to the ordinary shares."

However, I expect we'll still have the perma optimists talking them up. Just as there were after DTZ's warning of minimal value to shareholders.

[hyper al] 22/12/2011 20:12

Nothing, it's all about debt.

Bank of Scotland has the final say, the rest will do the best to get the max without the debt commitment, that is why I think we will see Blacks continue, covered by selling some assets. Remember Sports Direct use the same bank, I'm sure that could have an impact on the situation, if Blacks go into admin, I think it may impact on BoS other client.

[she-ra] 22/12/2011 20:05

Hyper Al - Whats 1-2p premium on the current share price in the grand scheme of things?

And if you think JD Sports are just into sports then you might find it interesting that they bought Cecil Gee not that long ago.

[hyper al] 22/12/2011 20:04

If bank of Scotland let this one go, they will have a black mark against their name!

[hyper al] 22/12/2011 20:00

she-ra

Surely anyone wanting Blacks in the current would never pay a premium, and this is exactly what we are seeing in this game.

[she-ra] 22/12/2011 19:55

Im not a shareholder but no-one has mentioned recently JD Sports nor as I am aware have they ruled themselves out.

JD Sports has benefitted from having Pentland as a shareholder in JD Sports and I am sure Pentland have also benefitted from their relationship with JD Sports.

If JD Sports had the support of Pentland then I am sure Pentland wouldnt even want the loss making stores to be closed but instead turned around. And they would get a head start with good terms on stock.

Now of course Pentland probably dont want to annoy the other retailers they supply to but hey it would be a JD Sports company!And better some of Black's rivals whinging than Mike Ashley eroding the premium prices of their products.

The outdoor market will continue to grow as more and more people choose to live a healthier lifestyle.There is so much scope for JD Sports to turn this company around.

Remember Pentland dont want Mike Ashley to get alot of these stores.Period.

He didnt buy those shares for nothing. If anyone knows what happened when JJB nearly went under just before they sold their gym business then you wouldnt be shocked to know he wasnt going to make a bid.He has more likely than not been buying the shares to block a bid.Dave Whelan claimed at the time that Mike Ashley was ringing around JJB's landlords to do a deal with him rather than agree to JJB's CVA proposal.

What I would like to know is what are the rules on people/companies building stakes in concert and whether they are supposed to tell the market they are 'friendly' parties.

Didnt Mike Ashley block the sale of the boardwear division for £40 million?Has Mike Ashley ever wanted to buy this company for a premium?

[hyper al] 22/12/2011 19:51

strutt12

We are on the same wavelength.

[strutt12] 22/12/2011 18:49

Take a look at the brands VF Corporation have!!!!!

Strange them buying into a company going into administration!!!!



" Company insiders say that several "substantial" offers have been received and insist that the company will keep trading while negotiations continue. The sale process is expected to conclude in January. Company insiders insists that it retains the support of its banks, suggesting that the rent payment will be met."

[hyper al] 22/12/2011 18:41

baldeagle5

I go along with your scenario. Probably the reason for the stock clearances, I think the banks and shareholders will keep Blacks going. Watch this bounce!

Could see some of their stores, maybe Millets sold.

Looks like lots of people have it in for Blacks, must be a reason for that!

[typo56] 22/12/2011 18:33

As ever, there are always your die hard optimists. Personally I wouldn't be surprised to see pre pack administration as early as tomorrow, with zero value for ordinary shareholders. But I'm always willing to be surprised!

[strutt12] 22/12/2011 18:17

Don't forget Ashley's offer, to reduce costs by sharing his distrubution centre, also if this goes pre-pack the bank stands to lose, and so does the shareholders!!!!

Lets see if only a few stores are sold!!!!

DYOR IMHO