JD Sports planned £90m takeover of struggling footwear firm Footasylum has been halted by an ongoing investigation by the Competition and Markets Authority (CMA).
The competition watchdog has issued an interim order against the sports fashion retailer proceeding any further with its takeover of Footasylum pending the conclusion of the second phase of its ongoing investigation into the deal.
The CMA said in its latest ruling that it “wishes to ensure no action is taken pending final determination of the reference which might prejudice or impede the taking of any action by the CMA.”
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.