// Frasers Group eyes DW Sports acquisition for over £30 million
// DW Sports entered administration earlier this month, putting over 1700 jobs at risk
Frasers Group boss Mike Ashley has reportedly placed over a £30 million bid for former Wigan Athletic owner Dave Whelan’s DW Sports.
Sports retailer and gym group DW Sports entered administration earlier this month, placing over 1700 employees at risk.
Frasers Group, formerly Sports Direct, has offered administrators more than £30 million for the company, which comprises 73 gyms and 75 stores, The Sunday Times reported.
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Ashley is known for snapping up retailers during a high street crisis. In the past he has acquired the likes of Jack Wills, Evans Cycles and House of Fraser.
Administrators at BDO are said to have been asking for about £20 million, although there have been speculations that Whelan’s family could seek to buy back the business.
The Whelans also own Fitness First, which is not affected by the collapse.
Trading through the DW Sports website ceased with immediate effect, and its bricks-and-mortar retail arm will be wound down for good.
Taking over Whelan’s empire would add to Ashley’s 880 stores at Frasers Group.
The retail empire reported a 14 per cent rise in half-year sales to £2 billion last October.
However, it delayed its annual results last week because auditors needed more time.
The shares closed at 283.4p, down by 38 per cent since the start of the year, valuing it at £1.5 billion.
Earlier this month, Ashley was also looking to seize as many as 30 stores from rival retailer Debenhams.
Ashley previously expressed an interest in taking control of Debenhams and attempted – but failed – to win a seat on the senior board role at the department store chain at least twice.
However, it has been speculated that the Covid-19 pandemic may have lessened Ashley’s interest in seizing some or all of Debenhams’ stores.
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