BusinessBusiness RecoverySports Direct bemoans Blacks administration

Sports Direct bemoans Blacks administration

Blacks Leisure shareholder unhappy at circumstances around its collapse

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.

Related Articles

SFP sells off Pixel Projects and saves all staff

Business Recovery SFP sells off Pixel Projects and saves all staff

1y Stephanie Wix, Writer
Administrators from KPMG appointed to City Motor Holdings

Business Recovery Administrators from KPMG appointed to City Motor Holdings

1y Richard Crump, Writer
Begbies Traynor appointed administrators of William Anelay

Accounting Firms Begbies Traynor appointed administrators of William Anelay

1y Richard Crump, Writer
CVR Global sells DMG Steelworkers out of administration in pre-pack deal

Accounting Firms CVR Global sells DMG Steelworkers out of administration in pre-pack deal

1y Richard Crump, Writer
CVR Global administrators appointed at foreign language school

Accounting Firms CVR Global administrators appointed at foreign language school

1y Richard Crump, Writer
Smith & Williamson appointed administrators of 4Children

Accounting Firms Smith & Williamson appointed administrators of 4Children

1y Richard Crump, Writer
Cowgill Holloway concludes sale of film distributor Metrodome

Accounting Firms Cowgill Holloway concludes sale of film distributor Metrodome

1y Richard Crump, Writer
FRP Advisory sells Harland Machine Systems to Accraply Europe

Accounting Firms FRP Advisory sells Harland Machine Systems to Accraply Europe

1y Richard Crump, Writer