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		</div><p>Mike Ashley’s Frasers Group has said it will save “a number of jobs” after buying parts of DW Sports for £37 million (€41 million).<br />
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.</p>
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<p>It includes some of the company’s stock, but not the brand name DW, or the firm’s intellectual property.<br />
Around 1,700 jobs were put at risk when DW Sports fell into administration at the start of the month.<br />
Mr Ashley’s company said that it would save some of these, but did not specify how many jobs would be rescued.</p>
<p>“The transaction compliments (sic) the existing gym and fitness club portfolio within the company’s group and is consistent with the group’s elevation strategy,” it said in a statement.<br />
“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.”</p>
<p>The price could rise to £43.9 million if Frasers also acquires some leaseholds, the buyer said.<br />
During the year ending March 31 2019, DW had gross assets of almost £195 million, and made a loss of just over £20 million.</p>
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<p>DW appointed insolvency specialists on August 3, after its income was hit by the lockdown that forced its stores and gyms to close.<br />
It operated 73 gyms and 75 retail sites in the UK, but had already revealed plans to shut 25 stores in July.</p>
<p>Earlier this month DW said it would wind down the retail business for good, with the remaining 50 stores to close.</p>
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