Blacks Leisure Share Discussion Threads

[typo56] 05/1/2012 10:46

Hyper Al - how do you know "investors" are buying the shares?

[hyper al] 05/1/2012 09:22

some quite solid buying today

[hyper al] 05/1/2012 09:15

A float on the main market costs millions. I don't know the exact costs, but it certainly has a value that should not be sniffed at.

[jpjp100] 05/1/2012 08:53

why take on £36m debt and a load of shops - some of which are loss makers - just to get a listing?

a float of Pentland or a subsidiary would cost far less.

[hyper al] 05/1/2012 08:34

magickan2

Why do you suggest Pentland?

Does anyone know who Pentland bank with?

Could there be a chance that Pentland want a listed company in it's complete form?

[magickan2] 05/1/2012 08:25

That came from someone at Blacks, Pentland is the most likely

[hyper al] 05/1/2012 08:25

Good trading statement from JJB Sports today

[l2user] 04/1/2012 23:43

Blacks Leisure
January 4, 2012 7:45 pm
By David Keohane

[hyper al] 04/1/2012 17:24

unless they want a listed company on their books or reverse into it.

There is value in a listing, particularly as BSLA is a LSE FTSE Fledgling, Premium listed company.

[jpjp100] 04/1/2012 17:16

makes sense for Pentland to want the brands I suppose - but what value Peter Storm versus Berghaus or Speedo for instance (a couple of Pentland's other brands).

A combination of JD. and Pentland would go head to head with SPD better than the two separately.

But, as others have said, I can't see Pentland / JD, even in combination, wanting to buy the co and its debt, just a few bits of the tastier meat from the carcass.

[strutt12] 04/1/2012 14:51

JD Sports is close to making an offer for parts of Blacks Leisure, putting it head-to-head with Sports Direct, its rival, which is also trying to mount a rescue for the troubled chain.
The sports retailers are understood to be among four parties preparing final offers to be submitted by a deadline of Thursday to KPMG, which is handling the sale process, say people familiar with the matter.

Any deal to save the outdoor leisure group is expected to be via a pre-pack administration, whereby a company goes into a formal insolvency process but emerges rapidly under new ownership following a pre-arranged sale.
Although Blacks has failed to find a buyer for the whole company, the four parties are understood to be interested in acquiring the bulk of its 300 stores, which trade as Blacks and Millets, and employing many of its 3,500 staff.
However, other retailers including Edinburgh Woollen Mill, Go Outdoors and Mountain Warehouse, which were interested only in acquiring smaller numbers of stores, are understood to have dropped out of the bidding process.
JD Sports, Blacks Leisure and KPMG all declined to comment.
Blacks, which has net debts of £36m, put itself up for sale in December. Sports Direct is its largest shareholder, with 21 per cent of the stock, but the retailer said last month it would not make a formal offer for the company's equity.
A pre-pack deal would enable potential buyers to walk away from Blacks' costly warehouse and head office operations. Previously, Sports Direct had proposed a joint venture with Blacks to share its existing warehouse, supply chain and IT operations in order to cut costs substantially.
Peter Smedley, retail analyst at Charles Stanley Securities, said: "The UK outdoor retail market is a growing and attractive one, and Blacks and Millets are sizeable operators within it."
Mr Smedley forecast that in spite of its troubles, Blacks would manage "well over £150m" of sales in the 12 months to February 28 this year.
"The group's own brands, which include Eurohike and Peter Storm, will also be attractive to any potential buyers. Both JD Sports and Sports Direct have a strong record of acquiring underutilised third-party brands and making them work harder," he said.
Bidders are expected to work with the existing Blacks management team, lead by Julia Reynolds, the highly regarded former Tesco executive who became Blacks' chief executive in August.
On Tuesday, Blacks shares closed down 0.125p at 0.875p


Old news from what I can see!!!

[boonboon] 04/1/2012 14:25

pentland own 57% of JD so in effect they are in control.

[hyper al] 04/1/2012 14:20

And that article is about JD Sports not Pentland, what is the source for Pentand rumour?

[strutt12] 04/1/2012 14:13

doesn't explain the sudden buying though

[hyper al] 04/1/2012 14:03

4 January, 2012 | By Gemma Goldfingle

JD Sports is close to making an offer for parts of up-for-sale outdoor specialist Blacks Leisure.

[boonboon] 04/1/2012 13:59

nothing sure but the statement from the company and all the press speculation suggests it will be a pre-pack.

[hyper al] 04/1/2012 13:58

is there something about this in 'Retail Week' ?

[boonboon] 04/1/2012 13:47

anything will be pre-pack nothing for shareholders

[honiton] 04/1/2012 13:35

Pentland is JD. Sports

(albeit shared management and history)

[strutt12] 04/1/2012 13:30

Magic,

Where have you heard it from?

[arsene5] 04/1/2012 12:48

worth buying ?

[magickan2] 04/1/2012 12:47

The pentland group are expected to complete the buyout of blacks leisure by the end of the week so i've heard