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Jobs fear as Blacks set to go into administration
10:27, 06 January 2012
More shop jobs are at risk across Kent after outdoor clothing specialist Blacks Leisure Group became the latest high street retailer set to collapse into administration.
The struggling business, which includes Millets, Peter Storm and Eurohike brands, is expected to arrange a pre-pack administration whereby a sale is already agreed.
It joins other well-known high street names such as Past Times, Hawkin's Bazaar and La Senza in financial crisis after weak trading.
Blacks operates 208 Millet stores and 98 trading under the Blacks' brand.
There are three Blacks' stores in Kent - Bluewater, Tunbridge Wells and Canterbury - and six Millet outlets - Maidstone, Gravesend, Sittingbourne, Tonbridge, Tunbridge Wells, and Canterbury.
A pre-pack wipes out the value of shares and makes it more difficult for creditors to obtain their money. Blacks has debts of around £36m.
Shares in the group were suspended today ahead of the proposed appointment of administrators, likely to be KPMG.
Shops are continuing to trade. In a statement, the company said it "expects to be in a position to announce a sale of substantially all of the trade, assets and brands of the Group within the next few days."
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