Newspaper article The Journal (Newcastle, England)

JD Sports 'Buys Stores' from Failed Blacks

Newspaper article The Journal (Newcastle, England)

JD Sports 'Buys Stores' from Failed Blacks

Article excerpt

SPORTSWEAR firm JD Sports Fashion has bought Blacks Leisure's stores shortly after the company went into administration, it was reported last night.

JD Sports has paid pounds 20m for the stores, which trade under the Blacks and Millets names, according to Sky News, but it is unclear if the deal includes the company's highly valued brands such as Peter Storm and Eurohike.

The number of stores purchased under the agreement is unconfirmed, though could be up to 98 Blacks shops and 208 Millets outlets.

Blacks and KPMG would not comment on the acquisition, which is expected to be confirmed formally next week.

JD Sports is understood to have beaten Dragons' Den star Peter Jones, rival Sports Direct, which is owned by Newcastle United owner Mike Ashley, and outdoor retailer Trespass to land the stores.

Blacks announced it had appointed KPMG as administrator earlier as it admitted it has failed to find an outright buyer after putting itself up for sale following dire trading. …

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