Blacks faces collapse as shares sale "unlikely"
Blacks Leisure has signalled that it may go into administration, telling the Stock Exchange it expected sale offers for its trade and assets rather than shares.
The beleaguered retailer, which is headquartered in Northampton, closed its offer period yesterday and said several interested parties had come forward with bids.
However, Blacks said the submissions focussed on the company's brands, which include Peter Storm and Eurohike, and assets.
"A number of parties have submitted indicative offers to acquire the whole or substantially all of the trade, assets and brands of the group," Blacks told the Stock Exchange this morning. "However, the board notes that it does not have and does not now expect to receive an offer for the shares of Blacks Leisure."
Placing the company into administration would enable interested parties to bid for the Blacks' prize assets.
Companies including Go Outdoors and Edinburgh Woollen Mill were reported to have expressed interest in company during the sale period.
Blacks Leisure put itself up for sale earlier this month after failing to obtain funding to oversee a turnaround.
