Blacks Leisure is poised to enter a pre-pack administration deal, while a buyer for the business is agreed.
The retailer this morning said it expects to appoint KPMG as company administrator, but that the whole business will continue to trade through the insolvency.
One of four bidders is believed to have already been selected to buy the outdoor clothing firm’s assets, prior to the decision to enter administration.
Blacks Leisure said: “The company expects to be in a position to announce a sale of substantially all of the trade, assets and brands of the group within the next few days.”
Sports Direct, D Sports and Dragons’ Den entrepreneur Peter Jones are among bidders for the portfolio, which comprises 306 Blacks and Millets stores.
joanna.bourke@estatesgazette.com
