Mike Ashley buys DW Sports assets for £37m

Mike Ashley’s Frasers Group has acquired some of the assets of Dave Whelan Sports for £37m. Frasers has “acquired certain of the assets relating to DW’s gym and fitness business”, the business said, including “certain stock” but “excluding the DW business names and IP”. It will invest a further £6.9m “contingent upon the number of leasehold interests eventually acquired”, the company said. Earlier this month, DW Sports announced it would close all of its 75 stores over four weeks. The retailer also owns 73 gyms, some of which will “inevitably close”. It separately runs 43 Fitness First gyms, which are unaffected by the administration.   To send feedback, e-mail lucy.alderson@egi.co.uk or tweet @LucyAJourno or @estatesgazette