JD Sports Fashion has acquired the trading assets and trade of Blacks Leisure Group from its administrators for ¬£20m.
The assets acquired comprise principally inventories, fixtures and fittings and intellectual property and the consideration is being funded from cash resources and existing bank facilities. JD Sports will be retaining a senior management team at Blacks led by chief executive Julia Reynolds.
A statement 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 group."
(LON:JD.) John David Group (The) share price was +39.75p at 699.75p
SharePrice.com will do their best to ensure the quality of the information displayed on this site, but all information is provided as-is. We cannot be held responsible for any loss, material or otherwise, due to incorrect information found here. All share prices are provided by the London Stock Exchange, and are at least 15 minutes delayed.