Sports Direct mulls offer for Blacks
Blacks, the struggling outdoor clothing retailer which put itself up for sale last week, has confirmed that Sports Direct has made an approach about a potential takeover.
Sports Direct, owned by Mike Ashley, already has a 22% stake in the business. In a statement issued yesterday Blacks said: “The board confirms that it has received an expression of interest from Sports Direct, amongst a number of others, which may or may not lead to an offer being made for the company.”
Other retailers thought to be considering a bid for the business include Go Outdoors, Mountain Warehouse and Cotswold Outdoor.
Blacks, which operates 360 Blacks Outdoor and Millets stores stores across the UK, has debts of £36 million and reported a £16 million loss for the six months to end August.
