FRASERS Group has said it will save “a number of jobs” after buying parts of DW Sports for £37 million.
The company behind Sports Direct and House of Fraser said it would pay £37 million for parts of the assets of DW’s gym and fitness business.
It includes some of the company’s stock, but not the brand name DW, or the firm’s intellectual property.
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Around 1,700 jobs were put at risk when DW Sports fell into administration at the start of the month.
Mike Ashley’s company said: “Frasers Group looks forward to elevating the gym and fitness assets acquired pursuant to the transaction under the group’s existing iconic Everlast brand, and is also pleased to have saved a number of jobs.”
The price could rise to £43.9m if Frasers also acquires some leaseholds, the buyer said.
DW appointed insolvency specialists on August 3.
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