Frasers Group, the renowned British sportswear retailer, has expressed it plans to buy DW Sports.
In its efforts to make this happen, the retailer has, reportedly, made a bid of £30 million to take over Dave Whelan’s DW Sports.
Earlier this month, the sports retailer DW Group had collapsed into administration, which had put the jobs of more than 1,700 workers at risk.
Frasers Group, owned by Mike Ashley, has offered administrators £30 million for the company, while there are reports that the administrators at BDO are said to be asking £20 million.
However, there are also speculations that Dave Whelan and family could seek to buy back the business.
If and when Frasers Group takes over DW Sports, it will add up to former’s 880 stores. While the website of DW Sports has, reportedly, discontinued, physical stores too are expected to close down soon.
The Group, which had earlier bought the likes of Jack Wills and House of Frasers, has also been eyeing to get hold of 30 Debenhams stores.
Also Read: Debenhams to slash 2,500 more jobs!
Following Frasers Group’s £30 million bid announcement, its share price grew by 2 per cent.
Frasers Group, which owns House of Fraser, Flannels and USC, generates revenue of 3,701.9 million.
