x
By using this website, you agree to our use of cookies to enhance your experience.
We have 1 guests online 
Sign up

Blacks Leisure heads for administration

Friday 6th January 2012

Struggling retail group Blacks Leisure has revealed that it will enter a brief period of administration as part of a takeover deal.

Known as a "prepack" arrangement, the move will wipe out the value of existing shares, which are now suspended from trading on the London Stock Exchange.

A pre-pack administration is where the insolvent company has already arranged for a buyer of its profitable assets beforehand.

Blacks Leisure said it had received a number of final offers for the business.

It is expected to announce a deal in the next few days.

The value of Blacks Leisure fell 97% over the past year before trading was suspended on the Stock Market.

Have your say on this story using the comment section below

Mike Jones





blog comments powered by Disqus
Feedback:
If you have any questions or suggestions about this article or our news section, please don't hesitate to contact us.

Editorial Contact Details - Conor Shilling
conor.shilling@angelsmedia.co.uk
0845 672 6000
Related News Stories
Most Read News Stories