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.
Pixel Projects Limited (Pixel) has been sold by SFP, which has saved the positions of all 34 employees
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK