Blacks Leisure suffers sale blow
Published 16/12/2011 | 08:05
BLACKS Leisure's hopes of staving off collapse were dealt a blow today when its biggest shareholder Sports Direct withdrew its interest in buying the UK's biggest outdoor retailer.
The stricken firm, which owns 98 Blacks outlets, 208 Millets stores and the Peter Storm and Eurohike brands, put itself up for sale earlier this month as it struggles under a £36 million debt pile amid dire trading.
Newcastle United owner Mike Ashley's Sports Direct chain, which owns 22.5pc of Blacks, had said it was among the interested parties but today ruled itself out.