Retail news
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Blacks benefits from lots of snow and loss of Sandcity
- Posted:
- 11 January 2010 09:34
Blacks Leisure Group has benefitted from the UK's cold snap and a recent restructuring of the business, which saw its loss-making Sandcity subsidiary put into administration.In the half year from August 29th to January 7th, the company saw a turbulent period, in which it closed 87 of its loss-making stores ...read more
Blacks rescued from administration as creditors back CVA
- Posted:
- 24 November 2009 09:40
The creditors of Blacks Leisure have agreed to back a rescue plan. Blacks said 97% of its creditors, primarily its landlords, had accepted the Company Voluntary Agreement, safeguarding 4,300 jobs."The outcome is a powerful endorsement by the creditors of the company that the CVA is in the best interests of ...read more
Landlords to help rescue Blacks
- Posted:
- 23 November 2009 09:32
Struggling sportswear retailer Blacks Leisure is poised to reach an agreement with landlords that will allow it to back out of leases on 101 loss-making stores. The CVA could stop the retailer's slide towards administration and save 290 stores and up to 4,000 jobs. CVAs have already come to the ...read more
Blacks reveals store exit CVA plan
- Posted:
- 03 November 2009 10:12
Embattled outdoor retailer Blacks Leisure has revealed some of the details of its proposed company voluntary arrangement (CVA), which includes a plan to exit 101 unoccupied stores. The release of this financial burden is hoped will enable the group to save 291 trading stores and the jobs of 4,300 employees.Under ...read more
Blacks Leisure submits restructuring plan as losses widen
- Posted:
- 02 November 2009 09:38
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 discussions were ongoing. Lloyds Banking Group had ...read more
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