JD Sports in talks to pick up Blacks Leisure brands

British retailer JD Sports Fashion said on Monday it is in advanced talks over the possible acquisition of assets from outdoor goods retailer Blacks Leisure.

It is thought that JD Sports had outbid rival bidders including Sports Direct, Blacks' largest shareholder with a 22.5% stake.

Loss-making Blacks, which is saddled with £36 million debt, on Friday suspended its shares from trading on the London Stock Exchange, saying the process to appoint administrators would begin shortly, with KPMG being lined up for the role.

A deal would likely safeguard the majority of jobs at the 306 Blacks Outdoor and Millets stores, although unprofitable outlets could be
jettisoned and jobs at the company's distribution warehouse and Northampton headquarters, about 10% of the 3,500 total would be under threat.