DW Sports has collapsed into administration, placing around 1,700 jobs at risk.
BDO announced that its restructuring partners, Graham Newton and Ryan Grant, were appointed joint administrators of the sportswear and fitness company on 3 August 2020.
The group currently operates 50 retail sites and 73 gyms across the UK, with 25 of its stores having closed prior to the appointment of administrators.
According to BDO, all 1,704 roles across the business are at risk of redundancy following its collapse, though administrators said they will work towards “saving as many jobs as possible” through a possible sale of all or part of the business.
Following the collapse, trading through the DW Sports website has “ceased with immediate effect”, while discounted closing-down sales have commenced across its remaining retail sites.
According to BDO, administrators now “intend to explore the sale of as much of DW Sports’ business as can be achieved”.
Graham Newton, BDO business restructuring partner, said: “The well-publicised challenges for the retail and leisure sectors from the impact of Covid-19 have significantly affected DW Sports’ business.
“However, we are continuing to trade while we explore the sale of as much of DW Sports’ business as possible.”