Sports Direct hints at Blacks lifeline
Mike Ashley's Sports Direct has put forward an "expression of interest" to save troubled Northampton retailer Blacks.
Mansfield-based Sports Direct told the Stock Exchange that the expression of interest had not yet materialised into a concrete offer, and said there "was no certainly" that an offer would be made.
It added that if a bail out was to be made, consideration for any such offer would be in cash.
Sports Direct's owner Ashley is a key shareholder in Blacks. The camping and outdoor retailer told the Stock Exchange last week that it had put itself up for sale and was inviting offers from interested parties.
Other expressions of interest had been received alongside Sports Direct, said Blacks.
The sale announcement came after the retailer turned to a £40m bank facility to help out with its escalating debts.
Blacks said it hoped to have an offer for sale or restructure by the beginning of the new year.
