Mike Ashley’s Frasers Group has acquired 46 leisure clubs and 31 retail stores from DW Sports Fitness in a deal worth £37 million. It is also understood to be acquiring stock for a further consideration of around £7 million, but not the business name or brands. Frasers Group will leverage the acquisition to strengthen its Everlast gym and fitness business.
Administrator BDO’s Graham Newton said: “We are pleased to have achieved the 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.”
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