Outdoor goods retailer Blacks Leisure
The firm, saddled with 36 million pounds of debt, said on Friday its shares had been suspended from trading and the process to appoint administrators would begin shortly, with KPMG lined up for the role. Blacks' stores will continue to trade.
Blacks, which sells products such as walking boots, camping equipment and ski jackets from 306 Blacks Outdoor and Millets stores, employing about 3,500 staff, said it had received final offers for the group, although none attribute any value to its equity. That was in line with a December 23 update from the firm.
The board has now determined that any sale of the trade, assets and brands will be effected through an administration process, it said, adding that the actual appointment of administrators is only likely to take effect just before the completion of a sale within the next few days.
Peter Jones, a British businessman who appears on TV programme Dragons' Den, has bid for the firm, sources with knowledge of the matter told Reuters on Thursday.
Blacks Leisure declined to comment, while Jones' spokesman declined to return calls on the matter.
A JD Sports
(Reporting by James Davey and Sudip Kar-Gupta; editing by Rhys Jones)