After an 18-month battle, JD Sports has given up its fight to take over Footasylum.
The Competition and Markets Authority has been investigating the deal since Peter Cowgill’s sports fashion retailer announced it had agreed to buy its smaller rival for £90m in March 2019.
Last month, the CMA ordered JD Sports to sell Footasylum, which operates 65 stores, on the basis that it could heavily reduce competition.
It now appears that JD Sports has thrown in the towel, after several appeals and requests to re-examine the evidence.
