Home   News   Article

Faint glimmer of hope for Inverness gym after buyer is found for DW Sports chain


By Ian Duncan

Easier access to your trusted, local news. Subscribe to a digital package and support local news publishing.



Click here to sign up to our free newsletters!

Mike Ashley’s Frasers Group has bought the gym and fitness chain DW Sports in a deal that could be worth up to £44 million.

Around half of the firm's jobs are understood to have been saved as a result of the acquisition, though there have been no details released yet of exactly which branches will now reopen.

Members of the gym at Inverness Retail Park were told earlier this month it would not reopen after the easing of lockdown while the attached shop launched a closing down sale.

DW Sports was placed into administration last month putting 1700 jobs at risk.

It is understood the buyout has saved 922 of those roles.

The administrators have confirmed 43 of the group’s 73 gyms and 31 of its 50 shops have been transferred to Frasers Group – while the rest have been closed some may be reopened in due course.

Graham Newton, from administrator BDO, said: “We are pleased to have achieved a sale of a significant part of the DW Sports business as a going concern, as this will not only secure employment for the majority of employees, but should also result in a return to the company’s creditors in due course.”

A Frasers' spokesman said: "The transaction complements the existing gym and fitness club portfolio within the company’s group and is consistent with the group’s elevation strategy.

"Frasers Group looks forward to elevating the gym and fitness assets acquired under the group’s existing Everlast brand."

For more news.


Do you want to respond to this article? If so, click here to submit your thoughts and they may be published in print.



This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies - Learn More