Neil Gillis, chief executive of Blacks Leisure, said he was considering “all options” for the retailer’s boardwear division following a steep fall in sales and a warning that interim group losses would widen from £500,000 to £4.5m.

The shares closed down 12p at 77½p after the unscheduled announcement detailing the predicted loss. They are now more than 50 per cent lower than six months ago.