Sports Direct bemoans Blacks administration

by Kevin Reed

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10 Jan 2012

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blacks leisure

SPORTS DIRECT has bemoaned the administration of Blacks Leisure, of which it was a shareholder, claiming it has written off more than £50m in lost value leadnig up to Blacks' collapse.

In a strongly-worded statement to the stock exchange, Sports Direct said that Blacks' pre-pack sale was "disappointing", particularly as Sports Direct had offered to buy the business in 2010 at 62p a share.

The lost share value will have "no impact" on Sports Direct's previous guidance for hitting its target to issue bonus shares.

In a parting shot, Sports Direct called on the OFT to look into the outdoor and sports retail markets.

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