The share price of fashion retailer JD Sports was boosted this morning after the group confirmed it had entered 'advanced discussions' for Blacks Leisure.

Shares climbed 40p to £7.00 at 11.00am, a rise of over 6 per cent, as investors reacted optimistically to the news.

JD looks to have beaten off competition from more notorious bidders, namely Peter Jones, an entrepreneur who features on the BBC's Dragons' Den, and Sports Direct,  majority-owned by Newcastle United Football Club chairman Mike Ashley, for the outdoor goods retailer.

Outdoor clothing brand Trespass was also said to interested.

In a statement, the sports retailer said, 'JD notes the press speculation in relation to a potential offer for the assets of Blacks Leisure Group plc ("Blacks") and the recent announcement made by Blacks, and confirms that it is in advanced discussions with Blacks in relation to an offer for certain of its assets.'

Blacks, which owns 98 Blacks outlets and 208 Millets stores as well as brands Eurohike and Peter Storm, entered administration last week and saw its ordinary shares suspended by the London Stock Exchange.

Blacks shares have plunged over 97 per cent in the past year. The retailer, which employs some 3,500 staff, is yet to comment on the discussions.

JD confirmed it would make a further announcement on conclusion of the talks.