- Retail outlets and leisure clubs rescued as a going concern –
- 970 jobs saved across the business –
Further to the appointment of Graham Newton and Ryan Grant, partners at BDO LLP, as Joint Administrators of Dave Whelan Sports Limited (‘DW Sports’) on 3 August 2020, a sale of the company’s retail and leisure businesses as a going concern to SDI Fitness (DW) Limited (‘SDI’), part of Frasers Group PLC, was completed with effect from 23:59 on 23 August 2020.
As part of the transaction, 40 leisure clubs and 31 retail outlets which are currently open have been transferred to SDI, saving a total of 970 jobs across the business. A further 3 leisure clubs have been transferred to SDI but are currently unable to re-open due to local government COVID-19 restrictions. A number of leisure clubs and retail outlets that had closed either prior to, or during, the Administration may additionally be re-opened by SDI in due course.
At the time of the Joint Administrators’ appointment, DW Sports operated 72 leisure clubs and 50 retail outlets across the UK, employing 1,800 people. Some retail outlets had closed prior to the Administration, whilst it became necessary to close a further 19 retail outlets and 29 leisure clubs during the Administration.
Fitness First Clubs Limited remains a separate company and its 43 clubs are unaffected by the Administration of DW Sports or the sale of its business to SDI.
Graham Newton, BDO Business Restructuring partner, 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.”
Find a club near you