BusinessBusiness RecoveryPwC helps Blacks’ march on Army Stores

PwC helps Blacks' march on Army Stores

PricewaterhouseCoopers has secured a deal with Blacks Leisure Group for the sale of 47 Famous Army Stores, saving them from potential closure.

Famous Army Stores went into administration in January following ‘increased competition in the outdoor leisure sector’, further exacerbated by the effects of the foot and mouth epidemic that ravaged the countryside in 2001.

Russell Cash, PwC joint administrator, said: ‘We are delighted that the future of 47 of the remaining stores has been secured following the acquisition by Blacks Leisure Group. We are hopeful that we will be able to assign a number of leases relating to other stores in the near future.’

Blacks plans to brand the newly acquired stores principally under its Millets brand. Some of the stores will go under the Blacks name.

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