DW Sports, which currently operates 73 DW Fitness Clubs and 50 retail sites in the UK, has fallen into administration. Twenty-five of the retail stores had closed prior to administration.
Over 1,700 jobs across the business are at risk of redundancy, although the administrators will be working towards saving as many jobs as possible through a possible sale of all or part of the business as a going concern.
Consistent with the relevant government guidelines, 59 gym sites have reopened in England and Northern Ireland. The remaining 14 gym sites in England, Wales and Scotland will reopen where possible in accordance with the latest government guidelines for those locations.
In the meantime, the Joint Administrators - BDO LLP Business Restructuring partners, Graham Newton and Ryan Grant - intend to explore the sale of as much of DW Sports’ business as can be achieved.
Fitness First Clubs Limited remains a separate company and its 43 club sites are unaffected by the Administration of DW Sports.
Graham Newton, BDO Business Restructuring partner, said, “The well-publicised challenges for the retail and leisure sectors from the impact of Covid-19 have significantly affected DW Sports’ business. However, we are continuing to trade while we explore the sale of as much of DW Sports’ business as possible.”