DW Sports has said it will enter administration, putting 1,700 jobs at risk.
The company, which has has a gym at Victoria Retail Park in Netherfield, operates 73 gyms and 75 stores across the UK.
The company’s website has ceased trading with immediate effect.
DW has said it would work with administrators to save as many gyms as possible, while all of its shops will eventually close.
Chief executive Martin Long said: “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,”
“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.”
Administrators will be appointed today (August 3) and they will run the business and the stores, who will now sell their remaining stock.
