LANDLORDS of troubled sportswear retailer Blacks Leisure are expected to vote in favour of a rescue deal that would preserve more than 4,000 jobs.

Creditors of the outdoor chain are set to meet today to decide whether to support the planned company voluntary arrangement (CVA) aimed at ensuring the survival of a core section of the business.

The proposals involve asking landlords of 89 closed or closing retail stores to agree concessions on their financial claims on the firm, and the British Property Federation (BPF) has indicated that creditors are likely to support the deal.

Liz Peace, chief executive of the BPF, said: “The property industry has come a long way and is now more flexible than ever.”

But she said that, while landlords would “do what they can to work with their tenants”, there was a growing unease over the use of CVAs.

“With the average existing retail lease lasting over 12 years, Blacks would walk away from many hundreds of years worth of rent if the CVA is passed,” she added.

Blacks made pre-tax losses of £18.1m in the 26 weeks to August 26, up from £6.7m previously, as its boardwear division and under-performing Blacks and Millets stores dragged the group down.