Blacks Leisure has sold its Mambo surf stores as it continues to exit from its boardwear business. Andrew Gerrie, the chief executive of Lush, bought the action sports chain for £800,000 (€919,280-$1.3m) through his investment vehicle based in Hong Kong. The sale is another step in Blacks’ reorganization. It has already closed most of its surf shops, some of them under the O’Neill name. Surf products make up only about 5 percent of the company’s sales. It is reported that Halfords is looking at buying Blacks for as much as £30 million (€34.5m-$47.2m), and other interested parties include Mike Ashley and Lion Capital.

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