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Gloucestershire Business News

Sports Direct puts in bid for DW Sports

The company which owns Sports Direct is thought to have put in a bid for rival sports retailer, DW Sports, which went into administration earlier this month.

Mike Ashley's Frasers Group has offered administrators more than £30 million for the company, which is made up of 73 gyms and 75 stores, including stores in Cheltenham and Gloucester and a gym in Cheltenham, as reported by Retail Gazette.

Ashley is well known for snapping up retailers during a high street crisis. He has acquired House of Fraser, Jack Wills and Evans Cycles, among others, in recent years.

Administrators at BDO are said to have been asking for about £20 million for DW Sports, although there has been speculation that the family of owner Dave Whelan could try to buy back the business. The family also own Fitness First gyms, which has not been affected by the collapse.

DW Sports stopped trading online two weeks ago, while its sports stores are being wound down with the aim of permanent closure.

Photo credit: Google 2012

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