JD Sports Fashion has confirmed the acquisition of ailing outdoor retailer Blacks Leisure for £20m in cash.

The pre-pack deal will give the Bury-based chain nearly 800 stores. The company saw off rival bids from Sports Direct's Mike Ashley and Dragon's Den star Peter Jones to buy the debt-laden business.

Peter Cowgill, executive chairman said:''We are delighted to add another leading multi-branded retail proposition to our portfolio of retail businesses.

"We believe with the support of JD's ope......for the full story register now for free or login below...