The sports retailer Blacks Leisure hopes to get agreement from its shops landlords to accept a company voluntary arrangement (CVA) which will see the firm being able to continue trading while only paying part of its rental obligations. The deal would form part of a plan to safeguard some 4300 jobs at the struggling group, which trades under the Blacks, Millets and Free Spirit names. The Chief Executive of the British Property Federation (BPF) has indicated that creditors were likely to accept the proposal in a meeting planned for Monday, 23 November.
Source: telegraph.co.uk/22.11.09