Retail news
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Blacks Leisure submits restructuring plan as losses widen
- Posted:
- 29 October 2009 09:13
Blacks Leisure Group has been forced to submit a restructuring plan to its bank in order to secure its future after losses more than doubled in the first half. Blacks said that Lloyds Banking Group had accepted it as an acceptable proposal and is currently being discussed. Lloyds Banking Group ...read more
Blacks widens store closure programme
- Posted:
- 30 September 2009 09:32
Blacks Leisure has announced further steps in its restructuring plan, including store closures and head office staff reductions, following the administration of its Sandcity division.The company said that it had begun the process of closing 89 loss-making stores, whose performance had been a "considerable drag" on the core outdoor business. ...read more
Blacks puts O’Neill stores into administration
- Posted:
- 24 September 2009 09:28
Blacks Leisure Group has placed its subsidiary Sandcity, which runs the O'Neill chain of stores, into administration, saying that "there is no reasonable prospect of restoring profitability in the medium to long term and that Sandcity is no longer in a position to trade as a going concern".Sandcity accounts for ...read more
Uncertain future for Blacks Leisure
- Posted:
- 23 September 2009 09:41
Blacks Leisure is facing an uncertain future as the continuing poor performance at its Boardwear division threatens to drag the entire group into administration.In a statement, the company said that it had underperformed against budget for the first six months of the financial year to August 31st, resulting in the ...read more
Blacks Leisure issues profit warning
- Posted:
- 27 July 2009 10:35
Blacks Leisure has warned that its financial performance will be below market expectations after renegotiating its working capital facility with Lloyds Banking Group for a further 12 months.Blacks said it had originally planned to convert a number of struggling Boardwear stores to its Outdoor format but pending completion of the ...read more
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