A PRE-PACKAGED administration has been lined up for Blacks Leisure, to be undertaken by KPMG.
The listed outdoor-wear retailer announced late last year that potential buyers were lined up for the group. Its brands include Blacks, Millets, Storm and Eurohike. Blacks employs around 3,500 people.
Sale of the trade, assets and brands will take place while the business is in administration. Operating subsidiaries of the group will continue to trade through the process, while the sale is finalised within the next few days.
The shares, which were suspended this morning, will have no value based on the offered received by interested parties.
KPMG partners Brian Green, Richard Fleming and David Costley-Wood, will be appointed as the administrators.