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.