Struggling UK sporting goods retailer Blacks has abandoned plans to raise fresh capital and put itself up for sale again, the Financial Times has reported.

Blacks, which owns 98 Blacks outlets and 208 Millets stores, warned that any sale of the company or its brands, which also include Peter Storm and Eurohike, was unlikely to offer value to shareholders as its £36 million debt far exceeds its market value of £3.2 million.

Share this story: