Mike Ashley’s Frasers Group has today announced it has bought some assets of DW Sports out of administration in a £37m deal that it says will save “a number of jobs”.
DW Sports, which runs a gym and store in Netherfield, collapsed earlier this month, putting 1,700 jobs at risk after its income slumped during the coronavirus lockdown.
Sports Direct tycoon Mr Ashley will now acquire some of the gym and fitness assets in teh deal announced today.
Frasers said the gym and fitness parts of the business would be developed under the Everlast brand that it already owns.
In a statement to Sky News, Frasers said: “Frasers group looks forward to elevating the gym and fitness assets acquired pursuant to the transaction under the group’s existing iconic Everlast brand, and is also pleased to have saved a number of jobs.”