Lazaruswatch: Blacks saved by JD millions
You can stop all the administration-based jokes about ‘now is the winter of our discount tents’ if you don’t mind – that’s because those stricken purveyors of outdoor goods Blacks have been saved by a £20m buy-out from JD Sports.
The unusually healthy sportswear retailers have fought off rival bids from Sports Direct, Trespass and tall TV dragon Peter Jones in order to get their hands on the company, which has 98 Blacks outlets, 208 Millets stores and the Peter Storm and Eurohike brands.
It’s not all good news though – JD Sports have said that ‘underperforming stores’ will close, but haven’t said how many of them fall into that category. But it certainly looks as though there’ll be more than a few store closures and job losses before the dust finally settles.
See – it’s not ALL bad news around here. Mr Cameron, we think your ‘recovery’ may be underway…