Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
DW Sports, the British sports retailer and gym group has announced that it will enter administration, putting 1,700 jobs at risk of redundancy across the UK. According to a statement by the company, all of its 75 shops and its online shop are to be closed, while the administrators will try to find a buyer for as many gyms as possible.
The chief executive said that the COVID-19 pandemic and the UK government mandated closure of non-essential services left the business 'with a high fixed-cost base and zero income'.
DW Sports was founded in the 1970s as JJB. In addition to its shops, the company operates 73 gyms across the UK, 59 of which have reopened when the coronavirus restrictions were lifted in the summer.
Eurofound (2020), DW Sports, Bankruptcy in United Kingdom, factsheet number 101910, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101910.