JD was originally reported to be in talks about taking a stake in the struggling business last September. Neither Misguided nor JD confirmed those reports at the time. 

In the event, turnaround specialist Alteri Investors took a 50% stake last December.

Misguided has been grappling with problems for several years with its issues pre-dating the pandemic and high costs having been identified as a particular problem for it. 

Having been an online-focused operation, in the last decade it dived into giant physical stores in premium malls but later revised this ambitious physical retail expansion programme, closing the stores. 

However, its clothing is currently available in physical concessions in around 100 Asda

Despite its expansion plans and earlier predictions of a return to profitability, the pandemic and the subsequent supply chain crisis put paid to that.

Reports said that JD Sports’ interest in the company is at an early stage, despite the rumours last year.