JD Sports Fashion has announced that it has sold Bank, its struggling fashion arm, to a subsidiary of Hilco Capital, a restructuring specialist, for an undisclosed amount. The British retailer said the deal would recover a “substantial” amount of its inter-company loan, the exact details of which will be confirmed “in due course.” Bank recorded a pre-tax loss of £8.1 million (€10.8m-12.7m) in the year ended Feb. 1. The move originated from the decision by JD Sports to prioritize future investments in the sports channel. The retailer said it will continue to support the broadest possible range of fashion brands within the group.

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