Blacks Leisure has confirmed that it is to close 89 loss-making stores and
make around 50 redundancies at its Northampton head office as part of its fight
to save the company.
The outdoor leisure retailer said the move was part of a standstill agreement
it has reached with lender Lloyds Banking Group ahead of an expected covenant
breach this month and that the stores to close “have not traded profitably for
It advised that further restructuring was still required to satisfy the bank,
and that it was working with advisers KPMG to resolve the situation.
FRP Advisory sells business and assets of Harland Machine Systems Limited to Accraply Europe Limited
Manufacturer DMG Steelworkers has been sold out of administration in a pre-pack deal by insolvency and restructuring firm CVR Global
By threatening creditor returns, the government could undermine the UK’s World Bank insolvency ranking and cost creditors £8m a year, trade body R3 warms
Lee De’ath and Richard Toone, partners at CVR Global, were appointed joint-administrators of Lexden Centre (Oxford) Limited, trading as Colchester English Study Centre (CESC), on 29 June 2016