OWNERS of leisurewear company Millets, which has four stores in Oxfordshire, have put the entire chain up for sale in a bid to save the loss-making business from collapse.

Blacks Leisure Group, which owns 208 Millets stores nationwide as well as 98 Blacks outlets, made a £16m loss in the first half of this year. Other brands in the group include Peter Storm and Eurohike.

Blacks shares have fallen 96 per cent this year.

The group has stores in Oxford, Witney, Bicester and Banbury, employing about 30 people.

Directors had hoped to secure funding for a turnaround of the business, which would have included a revamp of stores, but failed to get the cash.