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Multiple reports stating 'advanced talks of asset buyout' are ongoing

JD Sports closing in on Blacks Leisure buyout

JD Sports is said to be in ‘advanced talks’ with Blacks Leisure, with a reported £20 million deal proposed for a takeover of the group, which includes Millets, Peter Storm and Eurohike.

Blacks Leisure, which has already announced that it will soon fall into administration, has around 98 Blacks stores nationwide and a further 208 branches of Millets.

A JD Sports statement said: "JD notes the recent press speculation in relation to a potential offer for the assets of Blacks Leisure Group plc and the recent announcement made by Blacks, and confirms that it is in advanced discussions with Blacks in relation to an offer for certain of its assets. A further announcement will be made on conclusion of those discussions."

Job losses at Blacks’ headquarters and Northamptonshire warehouse are expected if the deal goes through.

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