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Mike Ashley eyes up football strip retailer Kitbag

Sports Direct’s Mike Ashley is reportedly looking to add Kitbag, which sells replica football strips for major teams including Manchester United, to his sportswear empire.

Kitbag’s owner Findel has appointed KPMG to help sell the business as it looks to raise cash to tackle debts, according to The Telegraph. JD Sports Fashion is also said to be interested in buying the business.

Kitbag, which acts as a retail agent for some of the world’s biggest football clubs, is expected to fetch around £20m.

Findel said last month that Kitbag’s sales had grown by 7% year-on-year, although it continues to be loss-making as a result of old contracts.

 

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