SPORTS retailer DW Sports has revealed its Worcester store will begin a closing down sale and shut up shop for good after the company collapsed into administration.
The Cathedral Square business is one of the 50 remaining High Street stores to suffer the fate after its income was wiped out by the protracted closure of stores and gyms during lockdown.
A rescue bid will be launched to salvage the firm’s network of gyms across the UK with 1,700 employees at risk nationwide.
But the company said it will now wind down its retail business for good, with its website ceasing trading with immediate effect and closing-down sales starting at its 50 remaining stores.
Martin Long, group chief executive, 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.
“Like many other retail businesses, the consequences of this extremely challenging operating market have created inevitable profitability issues for DW Sports.
“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.”
Fitness First, which was acquired by DW Sports in 2016, will continue to operate as a separate company and be unaffected by the administration process.
