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DW Sports, which operated 73 gyms and 75 outlets in the UK, plans to permanently close all its sales sites and its online page will cease to be marketed.
The sports store and gym organization DW Sports said it would work with management, putting 1,700 jobs at risk, after their income was severely affected by the closure of gyms and closures.
The company, founded by former Wigan Athletic owner Dave Whelan, is expected to appoint insolvency specialists on Monday.
DW Sports operated 73 gyms and 75 outlets in the UK. It plans to permanently close all of its retail sites and will stop operations immediately.
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Corporate plans to protect as many jobs and gyms as possible through the restructuring process.
DW Sports that Fitness First, which is a sister corporation of DW, will continue to function as a separate corporation and its 43 clubs will not be affected by management.
Directors intend to assist employees, customers, and gym members wherever imaginable, while looking to locate a customer or customer for all or components of the DW Sports portfolio.
Currently, 59 of its gymnasiums have reopened in England and Northern Ireland, with 14 sites in England, Scotland and Wales not being open due to government restrictions.
The company’s chief executive, Martin Long, said: “After Covid-19, we found ourselves in a position where the government ordered us to close our retail store portfolio and our entire gym chain for a long period of time. with a higher constant load base and 0 revenue.
“Like many other retail stores, the consequences of this incredibly complicated operating market have created inevitable cost-effectiveness disorders for DW Sports.
“The resolution of appointing administrators was not taken lightly, but it will give us the most productive possibility to protect viable portions of the business, make them successful and ensure as many jobs as possible.
“This is a difficult style to handle for any business without long-term damage and with how limited we can get.
“Having exhausted all the other functions that the company must have, we firmly believe that this procedure can be a platform to restructure the business and maintain many of our gyms for our members, and also protect the maximum number of jobs imaginable for our team members.”
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