JD Sports Fashion, sports and fashion chain is selling its loss-making fashion business Bank Fashion Ltd to a subsidiary of Hilco Capital Ltd, the disposal would result in a “substantial recovery of its intercompany loan”. Executive Chairman of the company Peter Cowgill said, “We have decided that we must prioritise future investment in the Sports fascias and consequently we believe that the sale of Bank is in the best interests of the group. We shall continue to support the broadest possible range of fashion brands within the group.” Company’s fashion business, which includes brands like Bank and Scott, continued to underperform and increased trading losses.
