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DW Sports chain goes into administration


The UK-based chain of gyms and sports retail has confirmed it will enter administration. At risk are 1 700 jobs. Company BDO has been nominated Administrator

"As a consequence of COVID-19, we found ourselves in a position where we were mandated by government to close down both our retail store portfolio and our gym chain in its entirety for a protracted period, leaving us with a high fixed-cost base and zero income", commented Martin Long, Chief Executive, adding: "The decision to appoint administrators has not been taken lightly but will give us the best chance to protect viable parts of the business, return them to profitability, and secure as many jobs as possible."

The company, founded by former Wigan Athletic owner Dave Whelan, operated 73 gyms and 75 stores across the UK and employed 1 700 people. All of the chain's stores are planned to close and DW Sports already closed 25 of its stores and the remaining 50 retail locations will be "moving into closing downs sales". DW Sports website will cease trading immediately and a note advising on the current situation is already on display when visiting the site.

Administrator BDO said its aim was to try and sell as "much of DW Sports' business as can it be achieved."
 
 
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