Ashley’s Frasers bids £30m for failed DW Sports
New bid: Mike Ashley
Mike Ashley’s Frasers Group is understood to have lodged £30 million bid for DW Sports, the failed sports retail empire of his long-time rival Dave Whelan.
DW Sports announced earlier this month that it had appointed BDO as its administrator and said it would be winding down its retail business.
Its online business ceased trading with immediate effect, while the group’s sister company, Fitness First, will continue to trade as a separate company and its 43 sports clubs will be unaffected.
Frasers’ interest in the retail business, reported by The Sunday Times, follows speculation that Mr Whelan’s family could buy back the business.
Following the announcement, chief executive Martin Long said: “Like many other retail businesses, the consequences of this extremely challenging operating market have created inevitable profitability issues for DW Sports.”