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JD Sports warns of Footasylum writedown as fresh UK merger review gathers pace

By Victoria Ibitoye ( April 13, 2021, 12:01 GMT | Insight) -- JD Sports warned today of “considerable uncertainty” that Footasylum, the rival sportswear retailer that it bought last year, will ever return to its pre-pandemic levels of business and said it had written down Footasylum's value by 55.6 million pounds. The news could play into a fresh review of the deal now under way by the UK merger regulator after its block last year was quashed by judges.JD Sports warned today of “considerable uncertainty” that Footasylum, the rival sportswear retailer that it bought last year, will ever return to its pre-pandemic levels of business. The news could play into a fresh review of the deal now under way by the UK merger regulator after its block last year was quashed by judges....

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