Blacks Leisure has transferred the operation of its O’Neill wholesale business in the UK to O’Neill Europe.

In October, Blacks said it was looking at “all options” for its boardwear business and could potentially sell the division.

The transfer of the O’Neill wholesale division will be completed by May 2009 and Blacks said it will continue to be a key retail partner for the brand through its retail stores.

Blacks chief executive Neil Gillis said: “The O'Neill wholesale business falls outside of the group's core retailing expertise. Transfer of the business back to the licence holder will free up management resource and further reduce the group's working capital requirement as it continues to execute its recovery plan."

* JJB Sports' interim management statement has been delayed until later this morning for “administrative” reasons.

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