Plans for the revival of ailing outdoor chain Blacks Leisure have been frustrated by poor Christmas trading and "significant" annual losses.
JD Sports Fashion, which bought Blacks out of administration a year ago, blamed the weak performance on merchandise brought in by previous management and said it was confident results will improve in 2013.
However, the level of losses incurred in the year to January will cause group results to be at the lower end of City forecasts.
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