Blacks Leisure has updated the City this morning and said that trading since the Christmas period has been in line with management expectations.

Blacks Leisure also said that discussions were ongoing for a potential offer for the group but remain at an early stage.

The retailer's outdoor business, which includes its Blacks and Millets fascias, have continued to outperform the rest of the chain, 21 per cent ahead at the gross profit level since conversion.

Blacks is currently exiting its boardwear business and has currently converted eight boardwear stores to its other fascias.

It expects a non-cash exceptional goodwill impairment charge of around£1.7m from exiting the boardwear business.