Sports Direct, the sportswear retail chain owned by Frasers Group, is entangled in a legal dispute that could cost it £ 5.4 million.
Asset management firm JPMorgan has filed court documents asserting that Sports Direct left its former Wigan unit in disrepair when it vacated the property in 2019, breaching agreements in a 10-year lease signed in 2014.
JPMorgan claims that Sports Direct failed to fulfill the required refurbishment work, resulting in ‘loss and damage.’
Lawyers for JPMorgan argue that Sports Direct had ample time to rectify unauthorised changes, which was not taken care of, forcing the bank to carry out the work at a cost of £ 3.3 million.
JPMorgan also alleges £ 1.8 million in lost potential rent during the refurbishment period and seeks interest on this sum, totaling £ 5.4 million.
