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.
Three new partners and seven business restructuring advisers have been appointed to the new Preston office
Political and economic uncertainty behind the fall in confidence
Just Racing Services, operating company of the Manor Racing Formula One team has entered administration
Last year 16 oil and gas companies became insolvent, finds Top Ten firm Moore Stephens