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Sportswear chain JD Sports has lost millions of pounds after being forced to sell Footasylum, three tumultuous years after buying the retailer.
JD Sports has offloaded Footasylum for £37.5m, far less than the £90m price it paid in 2019.
JD Sports was forced to sell the business after the takeover was blocked by the UK's competition watchdog.
It is being bought by private equity firm Aurelius, which owns Tessuti, Go Outdoors and Lloyds Pharmacy.
The Competition and Markets Authority (CMA) had ruled the merger could lead to less choice and a "worse deal" for customers.
Earlier this year JD Sports and Footasylum were fined almost £4.7m by the CMA for sharing commercially sensitive information during its investigation. The boss of JD Sports, Peter Cowgill, resigned from the company in May after the fine.
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