JD Sports in talks to sell Footasylum

JD SPORTS has reportedly entered talks to sell its Footasylum chain to a private equity firm.

The retailer bought the streetwear brand for £86m in 2019 but is being forced to dispose of it after the competition watchdog ruled that the takeover could lead to a ‘worse deal’ for consumers.

JD is trying to negotiate a sale to Aurelius Group, according to Sky News. JD, who declined to comment last night, was ordered to sell Footasylum by the Competition and Markets Authority (CMA). It successfully appealed the initial decision to block the takeover but the CMA issued a final notice to sell last November.

JD boss Peter Cowgill and Footasylum’s Barry Bown met last summer and were found to have discussed commercially sensitive information.

As a result the companies were fined a total £4.7m earlier this year.