Footwear firm JD Sports seems likely to admit defeat in its clash with the country’s competition watchdog over its proposed takeover of a rival.
JD Sports had been looking to buy rival footwear retailer Footasylum but has faced multiple obstacles from the Competition and Markets Authority (CMA).
After a decision from the watchdog, JD was instructed to sell the smaller company in November. The CMA decided the takeover could slash competition and result in a worse deal for Footasylum customers.
Peter Cowgill, executive chairman of JD Sports called the CMA’s decision “inexplicable” at the time.
However, a deadline for the retailer to appeal the decision to the Competition Appeal Tribunal passed earlier this month, it was first reported by The Sunday Times.
JD Sports did not wish to comment on the matter, when approached by CityA.M.
Earlier this year, the sport retail giant defended reports that its executive chairman met with Footasylum boss.
Cowgill met with Footasylum chief Barry Bown, in a car park near Bury in Greater Manchester, this summer, in footage seen by the Sunday Times.
The watchdog’s initial enforcement order bans the two firms from an integration of Footasylum into JD.
While it does not prohibit meetings, the watchdog said “no business secrets, know-how, commercially sensitive information, intellectual property or any other information of a confidential or proprietary nature” can be shared.