Mike Ashley picks up DW Sports' fitness assets from administrators for £37m – will operate under the Everlast brand

Billionaire Mike Ashley's Frasers Group has acquired the fitness assets of DW Sports for £37m.

DW Sports, which previously operated 75 sports retail stores and 73 health clubs, went into administration earlier this month. At the time, the move to administration was accompanied by the announcement that 25 retail stores would close immediately and that the retail division would, eventually, be permanently closed.

The gyms have been acquired by Frasers Group, owned by Ashley – whose other assets include gym chain, Everlast, retail brand SportsDirect and Premier League football club Newcastle United.

Frasers said the acquisition complements the existing gym portfolio and that it will operate the sites under the Everlast brand. The deal is said to be "consistent with the group's elevation strategy."

"The acquisition, for an initial cash consideration of £37m, includes certain assets relating to DW's gym and fitness business, including certain stock, but excluding the DW business names and IP," said a spokesperson.

An additional consideration (up to a maximum of £6.9m) may be payable, contingent upon the number of leasehold interests eventually acquired, taking the potential total to £43.9m, if conditions are met.

"We look forward to elevating the gym and fitness assets acquired under the group's existing iconic Everlast brand, and we are also pleased to have saved a number of jobs," they said.

Around 1,700 jobs were put at risk when DW went into administration at the start of August.

Frasers reports that DW Sports was not thriving before the pandemic – in its last accounts – for the year ended 31 March 2019 – the company had gross assets of £195m, but made a loss of £20m.

DW's Dave Whelan and Mike Ashley are long-time competitors and the move sees Ashley picking up valuable assets from his rival.

DW Sports Fitness was founded in March 2009 when Dave Whelan purchased 50 clubs and attached retail stores from JJB Sports for £83.4 million.

At the time all the sites were shared between a fitness club and retail, with most having gyms downstairs and retail upstairs. The portfolio grew to 140 sites at one stage, including standalone retail and standalone gyms, before scaling back to the 75 retail stores and 73 gyms.

Fitness First, previously a sister company to DW Sports, remains a separate company owned by Dave Whelan and its 43 clubs are unaffected by the administration and sale.

Billionaire  Mike Ashley  Frasers Group  DW Sports 
Related stories
03 Aug 2020

DW Sports calls in the administrators – Fitness First unaffected

16 Aug 2019

Blurring the boundaries of retail and fitness: DW Fitness First launches kit and collect service

04 May 2018

DW Fitness First reveals plans to becoming "UK’s largest sports participation brand"

Billionaire Mike Ashley's Frasers Group has acquired the fitness assets of DW Sports for £37m. DW Sports, which previously operated 75 sports retail stores and 73 health clubs, went into administration earlier this month. At the time, the move to administration was accompanied by the announcement that 25 retail stores would close immediately and that the retail division would, eventually, be permanently closed. The gyms have been acquired by Frasers
HAF,FIT,IND,PTS
Mike Ashley's Frasers Group has acquired DW Sports' fitness assets, which includes 73 gyms / Shutterstock.com/Sameoldsmith
More news
News stories: 1 - 30 of 7580     
 
 
 
News stories: 1 - 30 of 7580     
 
 
 
company profile
Company profile: Barr + Wray Ltd
Founded in 1959, Barr + Wray is recognised as a world-leading provider of spa design, engineering, and pool and spa equipment.
videos
BluGalaxy a Division of Blu Spas
Blu Spas
This animation showcases the beautiful concept design of BluGalaxy Spa.
Try cladmag for free!
Sign up with CLAD to receive our regular ezine, instant news alerts, free digital subscriptions to CLADweek, CLADmag and CLADbook and to request a free sample of the next issue of CLADmag.
sign up
Hotel de la Ville has 104 rooms and suites, inspired by Rome’s role in the era of the Grand Tour
Olga Polizzi is director of design for Rocco Forte Hotels and also owns two of her own hotels
"On Via Sistina, everything breathes history. At the same time I wanted to reflect the modern hunger for the fantastical - Tommaso Ziffer"

Following the highly anticipated launch of Rome’s Hotel de la Ville, Rocco Forte’s director of design reflects on a fascinating project

Catalogue Gallery
Click on a catalogue to view it online
To advertise in our catalogue gallery: call +44(0)1462 431385
BIG associate Jeremy Siegel is leading the BIG U project in New York
"Funding woes and murky timelines are common problems. It can be easier to make a difference one small project at a time"

From parks designed to mitigate the effects of flooding to warming huts for one of the world’s coldest cities, these projects have been designed for increasingly extreme climates

Interview: Elizabeth de Portzamparc
Elizabeth de Portzamparc
"We need to stop the destruction of our world through predatory practices. We need to think of the future"

The architect behind Nimes’ Musée de la Romanité on designing to counter loneliness and the need for more cultural buildings

features
"Most clients are very focused on how buildings are used and experienced as the primary design driver"

The MD of Schmidt Hammer Lassen and the CEO of PerkinsWill tell us why their merger will help create smarter buildings driven by human behaviour

Many of the cottages feature earth-sheltered designs
"Sam was such a champion for the team, and my goal is simply to carry that same torch"

As Blackberry Mountain resort opens in Tennessee, we find out why the project is a deeply personal one for owner Mary Celeste Beall

CopenHill is a “crystal clear example of hedonistic sustainability,” says BIG founder Bjarke Ingels
"It was born from the sheer anxiety of having to submit something brilliant in a very short timescale"

How a moment of desperation led to BIG’s CopenHill, the clean power plant that’s doubling as a skiing and leisure destination. Magali Robathan speaks to the architects that made it happen

cladkit product news
Móz Designs columns anchor the world’s largest indoor aquarium
The design of the columns was inspired by the sea
Magali Robathan
After a two-year renovation, Oakland-based metal experts Móz Designs have unveiled their inclusion in Georgia Aquarium’s new shark gallery. Located ...
Painting with Light pushes boundaries to create unforgettable visual concepts
The team combines lighting, video, sound and special effects, with scenic and architectural elements, to create unforgettable visual experiences
Megan Whitby
Belgium-based light and video design studio, Painting with Light, will translate the story of your location into a visual experience, ...
LianTronics’ glasses-free 3D Star Trek LED screen attracts attention
Magali Robathan
LianTronics’ giant curved LED wall with stunning glasses-less 3D spaceship display effect has attracted many on the street of Chengdu, ...
cladkit product news
Cosm unveils Experience Centre with ‘one of a kind’ LED dome
The new Experience Centre houses a 20m LED dome
Magali Robathan
Cosm, a global technology company that builds end-to-end solutions for immersive experiences, has unveiled its Experience Centre which houses a ...
Siminetti unveils first glimpses of Mother of Pearl decorative surfaces inspired by the four seasons
The new winter design is finished with naturally occurring hexagonal patterns found in snowflakes
Megan Whitby
Siminetti has collaborated with British designer Chrisanna London to create a luxury Mother of Pearl decorative surface range inspired by ...
ASPA International launches handheld UV-C light disinfection lamp
The compact plug-in product can be used easily in a commercial spa or domestic setting to disinfect surfaces with UV-C light
Megan Whitby
For over 30 years, ASPA International has designed and built high-quality spas for the hotel, health and wellness sectors. During ...
cladkit product news
Atelier Alain Ellouz launches handcrafted precious stone lighting collection
LYRA has a sleek, cylindrical design complete with an elegant brass dimming switch
Megan Whitby
LYRA, GAMA, MONA and ATHENA are the first pieces from designer Atelier Alain Ellouz’s new.édition collection of handcrafted stone lighting ...
Christie laser projectors power new Five Senses Bubble dome theatre
The dome aims to integrate technology with arts and culture
Magali Robathan
Christie® GS Series 1DLP® laser projectors are delivering vivid and lifelike visuals in a new dome theatre located in Xiong’an ...
Matteo Thun grows Allaperto collection with new suspended outdoor armchair
Megan Whitby
Allaperto, the lounge collection spawned by the partnership between design studios, Matteo Thun, Ethimo and Antonio Rodriguez, has been expanded ...
x
Sign up with CLAD for regular news updates