Blacks Leisure news and archive

Edinburgh Woollen Mill bids for Blacks

Knitwear retailer Edinburgh Woollen Mill has submitted a bid to acquire Blacks Leisure, the troubled outdoor clothing retailer it has been reported. Blacks Leisure, which also owns brands Peter Storm and Eurohike, put itself up for sale earlier this month as it struggled with debts of £36 million. Potential bidders had to register interest with...

Fashion

Sports Direct cleared by OFT

Competition regulator the Office of Fair Trading (OFT) has decided that Sports Direct’s minority shares in Blacks Leisure does not go against competition rules. FashionUnited reported last month that the OFT was investigating Sport’s Direct’s stake in Blacks Leisure but after considering whether a relevant merger situation had been created as a...

Fashion

Sports Direct wins high court claim

Retailer Sports Direct claimed a multi million pound victory at the high court last week over shares in rivals. The legal dispute centered on the amount Sports Direct had to pay the liquidators for Kaupthing Singer & Friedlander (KSF) for shares it bought in rivals Blacks Leisure and JD Sports Fashion - the British subsidiary of the Icelandic...

Fashion

Blacks Leisure to reveal losses

Outdoor clothing specialist Blacks Leisure is this week expected to reveal an £8million loss as it pushes for banks to agree renewed borrowing terms. After an inquiry by Financial Mail on Friday, Blacks issued a three-line statement to the London Stock Exchange saying it had agreed with Lloyds Banking Group to extend terms for three months. The...

Fashion

Blacks Leisure in profit warning

Blacks Leisure has warned that its profits will be below market expectations after reporting weak Christmas trading. Group like-for-like sales fell 3.9% in the 13 weeks to 8 January. The sporting company saw a 19.2% sales fall in skatewear. Blacks is trying to reduce the amount of boardwear it sells and is planning to convert 10 of its...

Fashion

Blacks Leisure suspends board director

Outdoor clothing company Blacks Leisure has suspended a board director, after finding accounting "discrepancies" at a subsidiary. According to the BBC, it found that for at least two financial years, earnings at Sandcity, which sells O'Neill branded boardwear, had been overstated by about £1m. Last December the firm appointed a new chief...

Fashion

Blacks Leisure to replace top management

Leading shareholders in Blacks Leisure are plotting a coup at the company in an attempt to replace its top management. A group led by Principle Capital Investment Trust - which holds 5 per cent of Blacks - and believed to include Intrinsic Value, which holds 7 per cent, is seeking a replacement for Keith Fleming, the chief executive. "There is a...