Retailer JD Sports Fashion is close to sealing a deal to buy Blacks Leisure after the outdoor goods group goes into administration, according to a source familiar with the situation.
In a process known as a pre-pack administration KPMG will shortly be appointed as Blacks' administrator before most of the firm's trade, brands and assets are immediately sold to JD Sports.
The source said on Friday JD had out bid Sports Direct, Britain's biggest sporting goods retailer, entrepreneur and Dragons' Den TV star Peter Jones and a fourth unnamed suitor.
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Jones said on his personal Twitter feed that he would not be buying Blacks.
Shares in JD closed up 11.4 percent at 751.75 pence.
Earlier on Friday Blacks said it would go into administration and then be sold within days.
(Reporting by James Davey; editing by Kate Holton)
Source: http://www.ibtimes.com/articles/277802/20120106/jd-sports-close-to-blacks-leisure-deal-source.htm
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