Partner Article

Another hurdle for Ashley

NEWCASTLE United owner Mike Ashley could see his bid to buy Blacks Leisure severely dented by the parent company of Sunderland outdoor brand Berghaus.

Pentland, whose stable of brands also includes Ellesse, Mitre and Speedo, will reportedly disclose a 5% stake in Blacks this week.

The move would further hinder Ashley’s takeover bid after it emerged last month that the American owner of North Face, VF Corporation, had taken a 5% stake in Blacks.

A number of suppliers, including Pentland and VF, have reportedly threatened to boycott the retail chain if Mr Ashley seized control.

They are thought to have built up their stakes to block Mr Ashley’s plans in protest at the way he restructured Field & Trek, the sports and online retailer he bought in 2007 and which subsequently saw its turnover plunge from £12.5m to £7.5m.

Mr Ashley walked away from a bid for Blacks Leisure last month, only 24 hours before a Takeover Panel-imposed “put-up-or-shut up” deadline. The offer came after Sports Direct built up a 28.5pc stake. However, under takeover rules, Mr Ashley is now barred from making a new offer for Blacks Leisure until September.

This was posted in Bdaily's Members' News section by Ruth Mitchell .