Deathwatch: Blacks pulling up the guy-ropes?
By Mof Gimmers
Blacks, that lot who specialise in outdoor stuff, look like they’re on the ropes with the company doing a ‘restructure’. This means that they’ve had to hire someone to supervise the process which could see 89 of its stores close.
KPMG UK head of restructuring Richard Fleming said: “The proposed CVA gives Blacks the opportunity to preserve 291 trading stores and around 4,300 jobs. The CVA proposal is asking landlords of unoccupied stores to come to a compromise on the company’s financial liability.”
This news comes on the back of Alan Sugar’s pal, Claude Littner, jumping ship from the leisure group. The Guardian quoted him as saying that he was “banging his head against a brick wall” over the fact that the management were too soft to do the dirty business required to haul Blacks’ sorry arse away from a “perilous” outcome.
Blacks Chief Executive Neil Gillis said:”After several years of losses Blacks embarked on a turnaround plan in early 2008. That plan successfully reduced the cost base of the business, reduced our working capital requirements.
“However, the severity of the current trading environment and the drag of the loss-making Boardwear business has required a more radical set of measures to complete the turnaround of this business.”
Apparently, property sources have said they’ve been unimpressed by Blacks’ handling of the situation. It all seems a bit of a sorry state of affairs really.
Posted in deathwatch November 4th, 2009 | 11 Comments
feral trolley of the week
Are shops still allowed to call themselves that in this day and age?
Thing is, Campings more of a ‘White’ thing.
It’s featured on the ‘Stuff White Folks Do’ website.
Go figure
Aren’t Blacks just Milletts in a different guise? God knows why anyone would buy their overpriced tat.
Actually I think Blacks own Millets and tend to have the higher end stuff than Millets which is more of a budget outdoor store. Still in this day and age of internet trading these people have been charging top end for goods for far too long and it is time for them to change or go under. Remember Woolworths…..
@ TVDBP That’s a sarcastic postmodern ‘PC’ joke I guess? If you’re being serious i have doubts about this world.
They charge too much and people shop elsewhere. It’s not a surprise.
Paying a little extra compared to the internet is not too bad if you get extra service – such as expert fitting for boots. But the people that work in my local Blacks are not expert at all.
Before diGriz combusts in anger, yes I was taking the piss.
Good f*kin riddance! Unfortunately the Dundee branch seems to be surviving. The manager is a complete cock…
At least the staff won’t be forced to live in cardboard boxes, they can take tents as severance!
Was in Meadowhell the other day and Millets & O’Neill have both gone tits up leaving only Blacks from the group to continue trading. There’s a 66% efficiency saving straight away!
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