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.
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
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children