jd sport set to buy blacks leisure
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Blacks Leisure Group to go into administration
Shares in the Blacks Leisure Group have been suspended today as they have gone into a short period of administration as part of a take over deal.
The so-called prepack arrangement will open the doors for a take over deal to take place but will wipe out the value of existing shares, which have now been suspended from trading on the London Stock Exchange.
The prepack deal indicatates that the profitable areas of the business have already been sold off and an annoucement should be made within days on who the buyer or buyers are.
Blacks stores are to remain open for trading during this period.
