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Blacks and Sports Direct saga continues

The planned takeover of Blacks by Sports Direct has taken another turn with Sport Direct owner Mike Ashley claiming Blacks had broken takeover rules.

Ashley, the Chairman of Newcastle United, already owns 28.5% of Blacks and was planning to take over the company, a move that seemed to be scuppered by Black’s suppliers who were reluctant to see the Chesterfield based company take control of Blacks.

The claim is that Blacks leaked the names of suppliers who had opposed the takeover and would pull out if Sports Direct succeeds.

The story continues….

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Suppliers to scupper Sports Direct deal for Blacks

Suppliers to outdoors retailer Blacks are set to boycott a deal for Sports Direct to buy out Blacks.

Sports Direct current hold 28% of shares in Blacks and may be looking to take control. Suppliers are worried after a similar deal that bought out Field & Treck saw a drop in turnover of £5 million in the first year.

Sports Direct based near to Chesterfield are owned by Newcastle United chairman Mike Ashley. The boycott may now force Blacks to look elsewhere for investment.