REFILE-UPDATE 2-Blacks Leisure close to funds deal; sales fall

Wed Jul 15, 2009 10:26am BST
 
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(Refiles to remove extraneous word in paragraph 6)

* In "advanced" talks with Lloyds for renewal of facilities

* Confident process will be completed "rapidly"

* 19 weeks to July 11 underlying sales down 1.8 pct

* Shares down 3 pct

(Adds detail, analyst comment, shares)

By James Davey

LONDON, July 15 (Reuters) - British outdoor goods retailer Blacks Leisure Group Plc (BSLA.L) said on Wednesday it was confident of securing new funds crucial for its turnaround plan, as it reported a further fall in sales.

The firm, which trades from a 372-store outdoor division, comprising Blacks Outdoor and Millets, and a 43-store loss-making boardwear division, comprising Freespirit and O'Neill, said it was in an "advanced state of negotiation" with Lloyds Banking Group Plc (LLOY.L) for the renewal of its existing working capital facility of 35 million pounds ($57.36 million).  Continued...

 

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