Home / Business / JD Sports buys Blacks for £20 million
But it won't save all stores, with underperformers set to close

JD Sports buys Blacks for £20 million

Following reports earlier in the week, JD Sports has confirmed it will buy ailing retail and brand owner Blacks Leisure Group, for £20 million.

According to reports, JD will now evaluate the outdoor retailer’s 300 stores (including 100 Blacks outlets and 200 Millets shops) before deciding which will be retained.

A statement from JD said: "Following the elimination of any underperforming stores and other cost reduction initiatives we believe the business can be run successfully as independent fascias within the [JD Sports] group."

JD hasn’t taken on Blacks’ debts as part of the buy out.

In other news...

Blubrake completes $6 million Series A round to expand safety solutions for e-mobility

Blubrake has announced a $6 million Series A round, allowing the company to reach total …