Gym and sports retailer DW Sports has announced that it will enter administration, putting 1,700 jobs at risk.
The company, founded by former Wigan Athletic owner Dave Whelan, operates 73 gyms and 75 stores across the UK, including a gym and store in Bangor.
The company said it will close all its retail stores for good, with its website ceasing trading with immediate effect and closing-down sales starting at its remaining stores from today.
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.
Chief executive Martin Long said: “As a consequence of Covid-19, we found ourselves in a position where we were mandated by government to close down both our retail store portfolio and our gym chain in its entirety for a protracted period, leaving us with a high fixed-cost base and zero income.
“The decision to appoint administrators has not been taken lightly but will give us the best chance to protect viable parts of the business, return them to profitability, and secure as many jobs as possible.”
DW Sports had already closed 25 of its stores, and the firm said its remaining 50 retail sites would “all be moving into closing down sales from today”.
The company said 59 of its gyms in England and Northern Ireland have reopened, while 14 are in areas restricted by localised lockdowns and are closed.
Mr Long told the BBC in April that the firm’s income normally totals around £15m a month, but that it had fallen to zero, overnight, while it still had a £3m monthly wage bill.
