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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Blacks Leis. | LSE:BSLA | London | Ordinary Share | GB0001028322 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.375 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
06/1/2012 22:27 | JD Sports looks set to buy the assets of Blacks Leisure, the struggling outdoor clothing retailer which employs about 3,500 staff. The deal is expected to be completed via a pre-pack arrangement, under which Blacks will briefly go into administration before being bought. It will wipe out the value of existing shares, which have been suspended from trading on the London Stock Exchange. The BBC understands the pre-pack deal is expected to be completed on Monday. There were reports on Friday evening that JD had offered about £20m for Blacks Leisure, which has 98 Blacks outlets and 208 Millets stores. Blacks had previously said it had received a number of final offers for the bulk of the business and expected to announce a deal in the next few days. Peter Jones, the Dragon's Den entrepreneur, was tipped as a possible bidder. He announced on Twitter on Friday that he is not buying the firm. "You'll no doubt find out who the buyer is later today," he added. Administration Sports Direct, which has a 22.5% stake in Blacks, was also thought to have been on the final shortlist of bidders. Scottish clothes chain Edinburgh Woollen Mill and outdoor goods firm Mountain Warehouse are believed to have dropped out of the running. Three partners from accountancy firm KPMG are expected to be appointed administrators, but only once details of an immediate onward sale of the company's key trade, assets and brands has been finalised. A pre-pack administration is one in which the insolvent company has already arranged for a buyer of its profitable assets beforehand. It will also allow the firm to write off its £36m debts, and help it to close down loss-making parts of the business. Appeal Any buyer is expected to require the closure of, or job losses at, Blacks' head office and warehouse in Northampton. Blacks also owns the Peter Storm and Eurohike brands. Last month, Blacks appealed for an investor to rescue it, by buying the firm or its brands. Blacks reported a £16m loss for the first half of its financial year and last month warned that its annual results would be worse than expected. The company's shares had fallen by 97% over the last 12 months prior to their suspension of trading on Friday. Blacks warned before Christmas that its shares were virtually worthless, and closed at 1.25p on Thursday, valuing the company at £1m. | p o n a | |
06/1/2012 22:27 | Blacks Leisure: JD Sports set to buy retailer | p o n a | |
06/1/2012 19:54 | won't get my 3 in 1 then | sir rational | |
06/1/2012 19:50 | I think JD are picking up the stock for their £20m as well. | peterboroughmatt | |
06/1/2012 19:39 | can't believe the admin guy is not authorising better discounts in the sale | sir rational | |
06/1/2012 19:38 | bigbigdave - 6 Jan'12 - 19:30 - 667 of 670 "Now is the winter of our discount tent" LOL | isis | |
06/1/2012 19:34 | the future's black | sir rational | |
06/1/2012 19:30 | "Now is the winter of our discount tent" | bigbigdave | |
06/1/2012 19:28 | sorry for all holders here ... but it was a punt to nothing for some peeps i guess ... who is next to go in retail more to the point | eelanguilla | |
06/1/2012 19:23 | It's prob' a no, but.... Could the assets be stripped and then something reversed into here/namechange/shel Just wonder why Franco Scolaro (who is mainly into mining/resources) was buying into this last month???? Any answers welcome.... | lufc5 | |
06/1/2012 19:14 | Nothing for shareholders as bank owed more than this | sir rational | |
06/1/2012 17:42 | £20m eh. That'll be about 24p per share for Hyper Al! | typo56 | |
06/1/2012 17:02 | According to Sky News (Latest News) -- JD Sports has bought Blacks Leisure Gp. Apparently a £20m deal. | bookish | |
06/1/2012 11:54 | Very sad to see another high street name bite the dust - but I guess it's the direction of travel...sympathies to all shareholders, been there and I know how it feels. | eisler | |
06/1/2012 11:26 | ok thanks. I've a shareholding in sportsdirect so am hoping they get the bulk of the business. A lot of synergies in my opinion. | boonboon | |
06/1/2012 11:11 | boonboon - the adminstrators duty is to chosse the option that will return the greatest amount to those owed money (but may also factor in long term stability or jobs) Therefore the only way that this would give SD a greater chance of picking them up is if the bank involved (who also bank SD) offered some kind of favouable terms if SD were to "win" the bid. Depite bidding their shares just get counted the same as any others, the only other way that they could use this is if they wrote off any "dividend" that may come to their shares. As the banks are currently £36m in the hole its unlikely that this would make any difference anyway. | speculate to infuriate | |
06/1/2012 11:06 | Friday's most followed: Blacks Leisure, Range Resources, Tower Resources, Nostra Terra Oil & Gas and Solo Oil January 06. at 10:54 am | l2user | |
06/1/2012 10:44 | Blacks folds its tent 06/01/2012 GROWTH COMPANY | l2user | |
06/1/2012 09:17 | Does anyone know if owning over 20% of the company gives Sportsdirect a bigger chance of picking up the business from the administrators? | boonboon | |
06/1/2012 09:11 | Makes no difference even if the Pope bought them - shareholders will get zilch. | isis |
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