A total of 1,700 employees are at risk as a result of the announcement. The company will now wind down its retail business completely, with its website ceasing trading with immediate effect and closing-down sales starting at its 50 remaining stores. DW Sports is expected to appoint insolvency specialists on Monday, after its income took a huge hit by the coronavirus lockdown – which forced its stores and gyms to shut.
The company, which was founded by former Wigan Athletic owner Dave Whelan, operated 73 gyms and 75 retail sites across the UK but announced plans to shut 25 of its stores last month.
Executives will try to protect as many jobs and gyms as possible through the restructing process, PA news agency reports.
DW Sports stressed that Fitness First, which is a sister company of DW, will continue to operate as a separate company and its 43 clubs will be unaffected by the administration.
More to follow…