JD Sports says £4.3 million penalty is unfair
21/02/2022
The UK’s competition authorities have imposed a penalty of £4.3 million on sports footwear and clothing retailer JD Sports.
This penalty is the result of an investigation by the Competition and Markets Authority (CMA) into JD Sports’ acquisition of equity in rival group Footasylum in 2019. CMA has said the attempted tie-up between the two groups meant JD Sports had access to commercially sensitive information.
JD Sports accepted this but rejected a suggestion from the CMA that its executives had deleted phone records.
It said the CMA’s description of events and the size of the penalty were unfair, but said it would continue to work with the authorities to divest Footasylum. In November 2021, the CMA ordered it to sell the rival group.
Share this story:
