JD Sports which acquired Footasylum in 2019 for £90 million, and has been forced to dispose of it by the CMA, is expecting the first round of bids this week. Footasylum operates 65 stores and reported an underlying profit of £21 million for the year to January 2022.
Bids are expected to come from JD Sports’ rival Frasers Group, as well as from private equity firms. A management buyout headed by Barry Bown could also create further competition amongst interested parties. The sale has been ordered to be completed by the CMA this summer.
Share