JD Sports has confirmed that it is considering raising as much as £400m via a share sale to build up its acquisitions war chest.
The retailer said it is “exploring additional funding options with a view to increasing its flexibility to invest in future strategic opportunities”.
“This may involve a non pre-emptive equity placing,” it added.
It comes after JD Sports pulled out of a deal to buy Debenhams last month. A deal may have saved some of the department store’s 118 outlets.
Instead, Debenhams’ brand and website were bought by Boohoo Group, the online fashion retailer, potentially spelling the end of the company’s high street presence.
If JD Sports’ fundraising goes ahead, the money would likely be used to strengthen its takeover capability, which had been depleted by last month’s $681m (£491m) buyoutof Shoe Palace, US retailer.
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