JD Sports has announced it has bought Blacks Leisure Group out of administration in a deal worth £20 million. The sports retailer said that it expects to close a number of 290 stores included in the acquisition.
A JD statement said: “We will evaluate the performance of each store in the coming months in order to reach a conclusion about the number of stores which will be retained long term.”
It added: “We will be retaining a senior management team at Blacks led by the chief executive Julia Reynolds. 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 group.”
Latest News
-
Sainsbury’s rolling out AI safety cameras across grocery van fleet
-
Primark poaches new CFO from Ikea
-
Major coffee roasters and producers failing to supply workers with living wage, finds NGO report
-
Frasers Group begins €2bn Hugo Boss takeover bid
-
'South Korean Amazon' receives record fine for data breach failings
-
Over 80 retail leaders urge government to tackle youth unemployment
From CapEx to AI: Understanding the evolving cost structure of retail technology
This Retail Systems webinar, sponsored by Aptos, brings together leading voices from across the retail technology ecosystem to examine how modern PoS has transformed the cost ownership model – and how the emergence of agentic commerce is poised to rewrite the rules once again.
Beyond Channels: Redefining retail with Unified Commerce
This Retail Systems fireside chat with Nikki Baird, Vice President, Strategy & Product at Aptos will explore how unified commerce strategies enable retailers to tear down these barriers and unlock new levels of operational agility and customer satisfaction.
© 2024 Perspective Publishing Privacy & Cookies
Recent Stories