Peter Jones denies trying to buy Blacks Leisure as JD Sports "wins" bid
Posted by Natalie Brandweiner in Finances on Fri, 06/01/2012 - 17:42
Dragons' Den star Peter Jones claims he did not bid to buy struggling retailer Blacks Leisure as previously thought, while press reports claim JD Sports is to purchase the chain.
It was reported this morning by BusinessZone.co.uk and other media outlets that the entrepreneur was bidding for the sale but this afternoon he took to Twitter to say: "To quell all rumours I'm not buying Blacks Leisure."
Jones was later questioned by Sky News journalist Mark Kleinman:
Kleinman has since tweeted that sportswear retailer JD Sports is buying Blacks for £20m with the deal to be formally announced on Monday.
The Dragon was thought to be one of four potential buyers. The remaining bidders were believed to be Sports Direct, owned by Newcastle United boss Mike Ashley and sportswear brand Trespass.
The outdoor clothing retailer, which owns 98 Blacks outlets and 208 Millets stores and employs 3,600 staff, is likely to be sold under a pre-pack administration deal after it failed to secure funding to turn the business around.
Blacks said it has accountancy firm KMPG in mind to organise the pre-pack deal – a process where the insolvent company is immediately sold as soon as it enters administration – which will allow the company to write off its £36m debts. The retailer's worst performing stores will also close.
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