JD Sports’ Footasylum acquisition put on hold by CMA

JD Sports fascia

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.”

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