JD Sports sells Bank to Hilco

Kasmira Jefford
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SHARES in JD Sports surged 3.7 per cent yesterday after the group said it had sold its loss-making fashion business Bank to focus on its other sportswear brands.

The retailer said restructuring specialist Hilco Capital had bought Bank for an undisclosed sum via one of its subsidiaries.

The sale should help to recover a substantial amount of its interĀ­company loan, JD said.

Investec analysts upgraded their profit forecast by seven per cent.

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