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By August 3, 2020 Read More →

AGENDA WEST BUSINESS NEWS: 1,700 jobs on the line as major gym group goes into administration after its income fell to zero due to Covid-19

The BBC have reported that the nationwide gym group DW Sports has gone into administration closing its 70 plus outlets with immediate effect.

The company is owned by Wigan Athletic’s Dave Whelan, although Fitness First  which is also owned by the same group will not close.

In a statement Martin Long of DW Sports 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.”

The BBC said DW Sports had “already closed 25 of its stores, and the firm said its remaining 50 retail sites would “all be moving into closing down sales from today”.

And the DW Sports website will also close down immediately. The firm normally turns over £15m a month but from March 23rd their income had dropped to zero due to the Covid-19 shut down.

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