Mike Ashley swoops for DW Sports assets in £37m deal

Mike Ashley’s Fraser’s Group, which owns Shirebrook-based Sports Direct, has made a £37m swoop for DW Sports.

DW Sports had been placed in administration earlier this month. Frasers has snapped up assets relating to the firm’s gym and fitness business.

For the year ended 31 March 2019 (the last date to which accounts are available), DW had gross assets of almost £195m and made a loss of just over £20m.

A statement from Frasers said: “The transaction compliments the existing gym and fitness club portfolio within the company’s group and is consistent with the group’s elevation strategy.

“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.”