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Blacks confident on refinancing
Outdoor goods retailer Blacks Leisure Group said yesterday it was confident of securing new funds crucial for its turnaround plan, as it reported a further fall in sales. The firm said it was in an “advanced state of negotiation” with Lloyds Banking Group for the renewal of its existing working capital facility of £35m. In May, Blacks secured a three-month standstill deal with Lloyds which extended its facility to the end of August. But the firm said it was also seeking additional funds