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.
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