Blacks Leisure calls in administrators for O’Neill boardwear stores

| September 24, 2009 | 0 Comments
”Blacks

Almost 100 jobs are at risk after Blacks Leisure called in administrators to its 11 O’Neill boardwear stores.

The economic downturn has resulted in a slump in the leisure market as consumers cut back on spending on outdoor items.

KPMG, which has been appointed as administrator, is hoping to sell the 11-strong chain as a going concern after Blacks said there was “no reasonable prospect” of restoring loss-making Sandcity (the subsidiary that owns the stores ) to profit.

O’Neill stores are located in Manchester’s Triangle shopping arcade and at the Trafford Centre, with others in Birmingham, York, Glasgow, Milton Keynes, Sheffield, Bristol, Brighton, Leeds and Bluewater in Kent.

However, Blacks also has more than 30 Freespirit stores, which have not been placed into administration and will continue to trade.

Shares in the company lost 13% yesterday following the news and have fallen a further 12% this morning in early trading.

The company also has 256 Millets stores and 116 Blacks Outdoor outlets.

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